HDB reports EGP 2bn in profits over FY 2019/20 despite COVID-19
Bank managed to implement strategic plan through which it seeks to be top commercial bank, says Chairperson Hassan Ghanem
Hossam Mounir
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AAIB grants Redcon EGP 2.7bn loan to complete Latin Quarter project at New Alamein
Financing supports bank’s realisation of vital role played by developing new cities
Net foreign assets in Egypt banking sector up EGP 10.7bn in January: CBE
EGP 32.73bn increase in local currency deposits, foreign currency deposits rise to equivalent of about EGP 649.65bn
CIB reports consolidated revenues of EGP 25.9bn, net income of EGP 10.2bn in 2020
Q4 2020 consolidated revenue of EGP 6.58bn and net income of EGP 2.89bn, or EGP 1.75 per share, down 11% from Q4 in previous year
Mashreq Bank Egypt sees 53% increase individual digital channel users amid COVID-19: Executive VP
Bank’s online, mobile banking platform to be upgraded to modern platform focusing on unique customer experience, says Haitham Hammad
COVID-19 crisis doubled mobile, internet banking users at Bank Audi – Egypt: CEO
Bank aims to automate some procedures to apply for loans, cards through digital onboarding systems, says Mohamed Bedir
HDB adopts ambitious plan for digital transformation: Chairperson
Housing and Development Bank continues to keep pace with CBE plans, initiatives for digital transformation, enhancing financial inclusion, Hassan Ghanem
ADCB Egypt prepares to launch package of digital services: CEO
Bank completes final preparations for second phase launch of internet, mobile banking for individuals and companies, says Ihab ElSewerky
CBE leads banking sector’s major role in supporting Egypt’s digital transformation efforts
Bankers, experts forecast e-payments will grow significantly in coming period
Finance Ministry to offer EGP 199.5bn worth T-bills, bonds in March
Total of 16 bids for T-bills worth EGP 142.5bn, 10 bids for bonds worth EGP 57bn
80% of Wealth, Personal Banking customers registered online: HSBC Bank Egypt COO
Over 2m transactions performed since January 2020, representing total value of more than EGP 400bn, says Sherif Aref
Agricultural Bank of Egypt grants EGP 31bn in MSME loans during 2020
Bank allocates 70% of loans to agricultural SMEs, says Chairperson Alaa Farouk
Banks to inject EGP 117bn into MSMEs until 2022 end: CBE
Banks in Egypt required to increase financing to MSMEs to 25% of credit facilities portfolio
Agricultural Bank partners with Kafr El-Sheikh to support youth projects
Governorate is cooperating with ABE to set up projects in agriculture, fish, and poultry production, says Governor Gamal Nour El-Din
Bank NPLs ratio in Egypt declines to 3.4% in September 2020: CBE
Banks set aside allocations to counter doubtful debts amounting to EGP 152.999bn
CBE-hosted FinTech Innovation sprint launched to address COVID-19 challenges
Innovation sprint in line with Egypt’s FinTech strategy, promotes entrepreneurs and startup cooperation with financial institutions to address COVID-19 challenges
National Bank of Kuwait – Egypt to increase issued, paid-up capital to EGP 5bn
Bank will also increase authorised capital from EGP 2.5bn to EGP 10bn
Al-Sharif Group, NBE sign EGP 978.2m financing contract for Shepherd Hotel renovation
Renovation and upgrade of Cairo’s renowned hotel is expected to take 42 months
Transport of Egypt’s petroleum products cost EGP 27.5bn in FY 2019/20
59.1m metric tonnes of petroleum products transported, at cost of EGP 164 – EGP 485/tonne
CBE amends provisions of tourism initiative guaranteed by Finance Ministry
New amendment stipulates that initiative would end after exhausting amount allocated or by June 2021, whichever is closer
Egypt sees slight decrease in unemployment to 7.2% in Q4 2020: CAPMAS
Workforce increased to 29.965 million in Q4 of 2020 from 28.171m in Q3 2020
saib Bank sees net profits grow 84% to $20.4m in 2020
Increase in profits was driven by high net income from return, net trading income
CBE reveals commodity prices’ movements in January 2021
Vegetable prices fell by 23.6% for second consecutive month
Egyptian petroleum product imports drop 32.3% in 2020: CAPMAS
Petroleum product imports amounted to $6.383bn during 2020
Central Bank of Egypt reveals market performance indicators in September 2020
Customer deposits break EGP 5trn mark for first time in local market
Housing and Development Bank records 96% growth in retail loans in 2020
Bank also reports 380% and 20% increase in auto loans and customer deposits, respectively
ABE makes notable contribution to sector revival, countryside development: Chairperson
Bank sees huge increase in loan portfolio to EGP 44.5bn in 2020, of which EGP 31bn directed to MSMEs, says Alaa Farouk
Race to develop 11 hospitals, 112 health units worth EGP 12.3bn in Aswan: Governor
Finance of EGP 54m granted to support 65 university, government hospitals, says Egyptian Cure Bank
Egypt offers international bonds worth $3.75bn in 3 tranches
Increasing demand for Egyptian international bonds represents coverage ratio of up to 4.4 times value of offering: Maait
CBE offers 1-year T-bills bid worth $980m on Monday
Proceeds of bid are used to pay for value of previous bid put forward on 11 February 2020