NBE aims to open 5 new digital branches in 3 months: deputy chairperson
Bank is working to employ technological infrastructure, modern software available to provide best service for its customers: El-Baz
Hossam Mounir
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Banque Misr issued 6.32m cards by end of June 2018
Bank aims to be present in coming period in Milan, Seoul, Nairobi, more African countries
Metropolitan Egypt Consulting aims to increase its business to EGP 750m in 2019
Firm intends to open new branches, beginning with Alexandria, Assiut in Q1 of 2019
CBE reviews initiative to settle troubled debts: Amer
Initiative includes settlement of debts of 3,500 companies, 337,000 individuals
Outstanding balance of local T-bonds fall by EGP 8bn at November-end: Finance Ministry
T-bonds worth EGP 15bn due in December, remaining balances due between February 2019, November 2028
CBE extends initiative to support tourism sector until end-December 2019
The Central Bank of Egypt’s (CBE) board of directors decided to extend its initiative to support the tourism sector until the end of December 2019. According to the CBE, during this period all applications to postpone dues to banks will be accepted for a period up to three years. The CBE has launched this initiative …
Banque Misr’s financial position reaches EGP 887.5bn end-June
Deposits increase by EGP 137.1bn, while loans portfolio record EGP 222.2bn
MoU signed between MSMEDA, Azhar University to encourage entrepreneurship
We choose university students, grads with innovative feasible ideas: Gamea
Minister of Finance criticised for his statements regarding taxpayers’ accounts in banks
This is not first time officials make statements that do not take certain aspects into consideration negatively affecting economy: Aboulfotouh
Banks are preparing to activate ‘Miza’ national payment card
HDB has finished configuring its ATMs to accept the card: Sebaey
Banks allocate EGP 114.602bn to face doubtful debts end-September: CBE
The ratio of non-performing loans up to 4.4% of total loans in Q3 2018
Al Ahly Holding signs $1bn deal with Al Ghurair Group, Murban to reclaim 180,000 feddan, establish world’s largest beet sugar factory
UAE investors contribute to 70% of project’s capital, worth EGP 5.4bn, Al Ahly Capital contributes to 30%
International, local financial institutions offer to invest $1.233bn in Egyptian T-bills
Interest up to a maximum of 3.75%, minimum of 3.73%, averaging 3.747%
Outstanding balances of international T-Bonds up to $20.57bn at end of November: Finance Ministry
2 T-bond tranches worth $2.57bn were floated for 8, 12 years on 19 November bearing interest rates of 7.125%, 7.625% respectively
Fruits, vegetables, poultry push headline inflation down to 15.6% November end: CAPMAS
Monthly inflation records -07% against 2.6% in October
MSMEDA obtains €15m grant from EIB to fund infrastructure, community projects in 6 governorates
Projects benefit 2 million Giza, Alexandria, Sharqia, Menoufia, Port Said, Assiut inhabitants, creates 320,000 daily jobs
Inflation includes Brent crude price rising to $76.7: CBE
Government aims to curb overall budget deficit to 8.4% of GDP in FY 2018/19
AIIB to introduce $510m investments into Egypt
Egypt has potential to be area’s eco-energy hub, we support state efforts to export green energy: Jin Liqun
NBE completed renovations of 178 branches, to re-open historic Mosky branch
Mosky branch represents important historical value for bank; its development comes within strategy followed by bank to modernise its branch network: Okasha
30% of ABE loans allocated to farmers, crop production: bank chairperson
Animal production projects receive 25% of portfolio, 20% for mechanisation projects, 25% individual, consumption, workers’ loans, says ElKosayer
First Abu Dhabi Bank launches bancassurance products, services in collaboration with gig
Union with gig will advance bank’s efforts to offer best merits to its customers: Hassan
Emirates NBD Egypt plans to expand digital services in Egyptian market: CEO
Bank attracted 3m smart wallets, plans to add services through Chatbot, Avatar, says Berro
EGP 2bn net profits of Banque du Caire in 9M18
Bank injected EGP 1.6bn to fund micro projects, including 55% for Upper Egypt, 35% for women
Banks’ profits score EGP 48.499bn until September 2018
Top five banks account for 43.9% of profits, top 10 hold 61.07%: CBE
FX Reserves to external debt highest in 6 years: CBE
An additional $12.7m new increase in FX reserves, reaching $44.513bn by the end of November
Beltone expects limited impact on headline inflation from hike in customs FX rate
Move aims to increase tax revenues amid no new tax measures
Banks’ investments in T-Bills reached EGP 749.117bn at end of October: CBE
Foreign investment in bills decline for 7th month in a row
5 major banks represent UAE in Egyptian market
List includes Emirates NBD, First Abu Dhabi Bank, Abu Dhabi Islamic Bank, UNB Egypt, Mashreq
Market welcomes CBE’s decision to end foreign investors funds repatriation mechanism
Decision planned since flotation in November 2016, we aim to direct investment funds money directly to market: Amer
EGP liberalisation eliminated all FX shortage
Egypt’s payments balance achieved overall surplus of $12.8bn, 5.1% of GDP for FY 2017/18