QNB ALAHLI loans increased to EGP 99.617bn, deposits reached EGP 159.795m YTD
Total assets increased to EGP 195.780bn, up 3% from December 2016
Hossam Mounir
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Ministries discuss manufacturing transport equipment
Regional Ring Road, Shubra-Banha road, and upgrading train stations, platforms, and railway crossings are most prominent joint ventures
MIDB injected EGP 150bn in its capital
We target to achieve a growth rate of 25% in all indicators of the bank by the end of 2017: Tantawi
EGP stays steady against US dollar despite church bombings
Bankers claim the attacks will not impact the exchange rate greatly
Hala Sakr appointed as member of EGX board of directors
Sakr will be serving as the representative of the Federation of Egyptian Banks
Banks acquired 74 of outstanding treasury bills in January 2017
Foreigners’ investments in state debt instruments increased to EGP 79bn in first week of April 2017
Household sector accounts for 75% of deposits at banks in December
It is very normal that individuals’ share in deposits is higher than companies’, Yousef says
United Bank aims to increase real estate finance portfolio to EGP 300m
The portfolio’s volume now is EGP 110m, but contracts to fund 11 projects in New Urban Communities were signed, says Samir
AIB’s loan portfolio increased to EGP 9bn by end of 2016
The bank has achieved more than 100% growth in business volume, says Seif El Nasr
Egypt to intensify cooperation with Jordan in military manufacturing
Minister of Military Production Mohamed Al-Assar met with Atef Al-Tal, chairperson of the board of directors of the King Abdullah II Center for Design and Development in Jordan, to discuss the joint cooperation between the two countries in the fields of defence and military technologies. The meeting took place at the ministry’s headquarters in Cairo. …
SCZone negotiates with pharmaceutical companies to invest in Medical City
Authority managed to attract first American pharmaceutical company to invest $624m, says Darwish
Government has to ease reliance on banks: source
The reliance leads to a vicious cycle, “amid low state revenues,” says banker
Business conditions continue to worsen: Emirates NBD Egypt PMI
Sharper contractions in output and new orders
Banking sector to rise up for supporting SMEs
EGP 101bn finances granted from banks to this sector so far, says Amer
EGBank quadrupled size of deposits and tripled number of employees in two years: Assar
We target to be one of the top 10 banks in Egypt in 2021 and to inject EGP 1bn to finance micro-enterprises in the coming period, says Assar
Egypt’s foreign debt jumps by $19.5bn in 2016
Foreign debt reached 37.6% of GDP in December 2016 compared to 13.6% in December 2015
CBE resolves issue of temporary facilities obtained in foreign currency: Negm
Companies that owe more than $5m to banks will pay a 3.62% return on the value of debt and a 13.75% return on the local liquidity which will cover their indebtedness
“Blom Egypt for Financial Investments” starts its activities in May
The paid capital of the company amounts to EGP 10.25m and the company will manage the bank’s investment funds, says Metwally
BLOM Egypt targets growth rate of 15% in all indicators by end of 2017
EGP 400m injected in bank’s capital to reach EGP 1.7bn financed by the profits, and the capital adequacy rate increased to 18.4%: Ozalp
HDB awaits CBE approval to separate real estate activity from banking business
We aim at becoming a commercial bank practicing banking business only and transferring investment activity to a company owned by the same shareholders: Sebaey
CBE expected to hold steady interest rates on Thursday
The increase of interest rates will not decrease inflation because it did not result from an increase in supply, says Youssef
United Bank obtains EGP 120m from SFD to finance SMEs
We signed six contracts with the fund so far, totalling EGP 395m, says El Kady
CBE is ready to repay Egypt’s foreign obligations: Amer
We have large inflows of foreign exchange and strong reserves that will aid us in repaying any obligations on time, says the CBE’s governor
Ezz Al-Arab named chairperson of FEB for three more years
Sharkawy, Tantawi leave FEB, El-Kosayer, Sakr join the new board
Cooperation protocol for establishment of agricultural project signed by Al-Assar
Minister of Military Production Mohamed Al-Assar signed a cooperation protocol with Mohamed Ashmawy, Tahya Misr fund’s CEO; Atter Hannoura, chairperson of Al-Reef Al-Masry for Development; and with Mohammed bin Rashid Al Otaiba, chairperson of Genaan Investment, to establish a project for the planting of 20 million palm trees, grains, and different oil crops. Al-Assar pointed …
Activation of a body specialised in supporting SMEs is necessary: El Oteifi
I hope the body is affiliated to the cabinet directly, not subject to the supervision of a specific ministry in order to coordinate between concerned authorities, says director of EBI’s SMEs unit
Egypt’s banks achieved net profits of EGP 53.066bn until December: CBE
Egypt’s five largest banks acquire 42.66% of total profits achieved by banks working in the Egyptian market
Metropolitan Egypt seeks to collect EGP 10m for Infinity Energy Systems
The company will be the finance consultant for all Infinity’s clients who seek to build future solar plants according to Nagaty
Private sector acquires 66.3% of total bank loans to clients by December: CBE
Non-performing loans rate declines to 5.8% of total loans in banks, with allocations of 99.1%
Chubb Life Insurance-Egypt aims to increase its business 3-fold by 2020
Egypt will represent a significant growth opportunity for Chubb Life in the coming years, says vice chairperson