Egypt-US trade exchange increases to $7.3bn in 9M 2022: CAPMAS
US investments in Egypt amount to $9.2bn in 2020/21
Hossam Mounir
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Net profits of banks operating in Egypt reach EGP 93.4bn in September 2022
Net revenue of banks operating in Egypt amounts to EGP 225.807bn
Al Tadamun Microfinance obtains EGP 100m from AAIB to support micro-enterprises
The two parties stressed that the signing of this agreement comes within the framework of keenness on keeping pace with the plans and strategies of the Central Bank of Egypt (CBE) and the Financial Regulatory Authority (FRA), to achieve financial inclusion and support the economic empowerment of citizens, in line with the goals of sustainable development and the vision of “Egypt 2030”.
Banks pump EGP 51bn to 454,000 customers as part of real estate financing initiative for low-income people
Banque Misr came in second place with total financing of EGP 12bn for 104,300 customers with a share of 22.7%, while the Housing and Development Bank came in third place with financing amounting to EGP 6.512bn directed to 69,301 customers with a share of 12.2%.
alBaraka Capital launches ‘Tanfeez’ company for real estate investment
Company represents new addition to AlBaraka Bank Group, says Hazem Hegazy
Launching the second annual edition of the Impact@Work social entrepreneurship programme
With the sponsorship of Citi Foundation, 54 university teams will compete in Enactus Egypt’s competition in 2023
CBE, Egyptian government affirm bank confidentiality is not compromised
Provisions of Unified Tax Procedure Law relates to exchange of information with foreign tax authorities, not Egyptian Tax Authority
18.9% increase in volume of trade exchange between Egypt, Arab countries in first 9 months of 2022: CAPMAS
The value of Egyptian exports to Arab countries amounted to $8.8bn
HDB pays attention to expanding non-financial business development centres
Banking sector’s provision of non-financial services complementary bank’s goal to support SMEs, entrepreneurs: Hassan Ghanem
Volume of trade exchange between Egypt and China increases to $12.7bn in first 9 months of 2022: CAPMAS
The agency also indicated that the value of Egyptian exports to China increased, recording $1.5bn, compared to $1.1bn — an increase of 36.7%.
NBE signs financing contract worth EGP 393m to replace, renovate Winter Palace Hotel in Luxor
This comes within the framework of the CBE’s initiative, which aims to finance the replacement and renovation of residence hotels, floating hotels, and tourist transportation fleets.
Finance Ministry to issue 27 tenders for treasury bills and bonds worth EGP 270bn
The ministry is expected to issue 16 bids for bills worth EGP 217bn and 11 bids for bonds worth EGP 53bn
Volume of domestic liquidity in banking sector increased to EGP 7.182 trillion by end of October 2022: CBE
The volume of non-governmental deposits in local currency increased to EGP 5.254 trillion, while foreign deposits amounted to about EGP 1.121 trillion
ABE aims to open 4 new digital branches in cooperation with e-finance before the end of this year
Farouk indicated that the significant expansion of digital services requires continuous support and modernisation of the bank’s technological infrastructure in an effort to accommodate this development, which is what makes the bank implement an ambitious strategy to develop the technological infrastructure to keep pace with the progress witnessed in banking application technology.
Boom in SCBank’s performance indicators since Hussein Refai assumed chairpersonship 5 years ago
The bank won Best CEO Award 2022 from the International Finance (UK)
Egypt records 131% growth in financial inclusion rates from 2016 to June 2022: CBE
The total number of people with accounts that enable them to conduct financial transactions amounted to 39.6 million citizens — 60.6% of citizens 16 years and over
CBE hosts 26th meeting of COMESA Central Bank Governors Committee
Central banks could rescue economies from recession, ensure sustainable growth: CBE Governor
Total financial position of banks increased to EGP 10.511trn in August 2022
EGP 1.198trn increase in customer deposits within 8 months, household sector accounts for 79.9% of total deposits
Outstanding balance of local T-bills, bonds amount to EGP 4.348trn in October 2022: Finance Ministry
Ministry of Finance also offered dollar-denominated bonds of $34.21bn from June 2015 to September 2021
Volume of Islamic banking in Egypt estimated at EGP 459bn by end of September 2022
Faisal Islamic Bank is in the lead with a turnover of EGP 141.7bn — 30.9% of the total banking volume
FinTech Egypt launches FINTEKRS initiative to encourage start-ups, implement innovative financial solutions
The initiative aims to raise awareness for fintech among entrepreneurs across all Egyptian governorates and to encourage affiliated start-ups to develop and implement practical innovative solutions directed towards the facilitation of banking services and increasing access to financial products.
External debt service payments amount to $26.3bn in FY 2021/22: CBE
Due instalments reach $21.7bn, interests record $4.6bn
Hisham Ezz Al-Arab returns to CIB as experienced board member
Ezz Al-Arab got approval of Central Bank of Egypt to assume new post
Egypt’s PM transfers burden of cost of 5 low-return initiatives to 3 ministries instead of CBE
The initiatives include real estate financing for low- and middle-income people, support for tourism, vehicle replacement, and modern irrigation
Banque du Caire establishes Cairo Exchange with authorized capital of EGP 250m
It comes within bank’s role to provide diversified financial services, increase foreign exchange resources: Fayed
MSMEDA allocates EGP 1.2bn to convert 150,000 cars to operate on natural gas
EGP 542m pumped to convert over 77,000 cars over the past eight years: CEO
HDB achieves 22.2% growth in net profits to EGP 1.753bn in 9M 2022
Results confirm bank’s success in implementing development strategy to achieve growth in various sectors
Suez Canal Bank net profits jump to EGP 735m in September 2022 with 95% growth
16% growth in total assets to reach EGP 67bn
NBE pumps $424m to fund 96 companies in service, industrial, and tourism sectors
Loans directed to several areas, including machinery, with aim of reducing carbon emissions
Outstanding balance of T-bills, bonds registers EGP 4.275trn in September 2022: Finance Ministry
Banks operating in Egyptian market are largest investors in bonds, T-bills