
Marginal overall BoP deficit of only $14.1m in 1H 2021/22
Egypt’s transactions with other countries resulted in minor widening of current account deficit
Egypt’s transactions with other countries resulted in minor widening of current account deficit
In a statement, the bank’s management commented that “1Q 2022 ended on a challenging note on both global and local fronts as global economic uncertainty intensified with the Russian -Ukrainian War. With this turn of events, the Central Bank of Egypt (CBE) raised the corridor rate by 100 basis points, coupled with devaluation in the Egyptian pound against the USD by EGP 2.5 as a result of the global inflation.”
Credit facilities increase by EGP 257.6bn in 7 months, reaching EGP 3.161trn
Annual urban inflation jumps to 10.5% in March 2022, marking highest rate since June 2019
ADQ also executed another transaction on Fawry’s shares for 215.124m shares at a value of $68.598m
Annual core inflation increased to 10.1% in March 2022: CBE
Volume of mobile banking transactions more than doubled to 107% in 2021
Of these projects, 3,116 are commercial projects, 216 are industrial, and 11 are from liberal professions and animal production projects
The bank is also facilitating supply operations from farmers and receiving all wheat supplied from them provided that it conforms to the specifications and terms of supply.
The CBE also emphasised the role of banks in providing electronic payment methods to the funded doctors within the scope of this initiative
Bank mainly directs financing toward sectors that Egypt seeks to develop, is committed to supporting community development, preserving environment: Walie El-Din Lotfy
Meanwhile, total local currency non-governmental deposits in banks operating in the Egyptian market amounted to EGP 4.561 trillion by the end of February 2022, compared to EGP 4.502 trillion at the end of January 2021, an increase of about EGP 59bn.
The Ministry of Finance aims to offer 52 bill bids worth EGP 555.5bn and 35 bond bids worth EGP 78.5bn from 1 April to the end of June 2022.
CAE selected the new branch’s location after conducting a geo-market study to identify geographical gaps. The branch is primarily located at the heart of Sixth of October City within a high business potential area and surrounded by three private universities.
The USD’s value on Tuesday was EGP 18.2742 and EGP 18.3742.
Egypt cooperates with Amazon, in line with Vision 2030 to help small businesses in various sectors expand: Nevine Gamea
USD price at CBE rises to EGP 18.25 for purchase, EGP 18.39 for sale
The official price at the CBE recorded EGP 18.2441 for buying and EGP 18.3754 for selling
Fund’s issued capital amount to EGP 905m
Bank pumps nearly EGP 12bn to finance agricultural loans from mid-June 2020 to 2021-end
Bank deposits increase to EGP 6.45trn, of which household sector accounts for 82.4%
It also provided women with the necessary funding to help them implement their own projects as well as enable them to assume leadership positions in banks and increase their contribution to decision-making.
Greenback averaged EGP 18.32 for buying, EGP 18.42 for selling at banks
The average price of a USD in banks, according to the Central Bank of Egypt (CBE), reached EGP 18.4508 for buying and EGP 18.5483 for selling on Tuesday, compared to Monday’s EGP 18.1708 and EGP 18.2683.
The CBE believes in the importance of exchange rate resilience to absorb shocks and maintain Egypt’s competitiveness: MPC
Yehia Abou El-Fotouh, Vice Chairperson of the NBE, said the bank’s new one-year saving certificates’ interest will be paid monthly.
Objective of raising policy rates is to anchor inflation expectations, contain effects of supply shocks: MPC
Participating investment entities also include e-finance, Egyptian Banks Company, and Global Ventures
Net profits of banks increase to EGP 107.132bn in December, compared to EGP 88.103bn in September 2021: CBE
Political leadership is directing all support to raise economic, social levels of Egyptian women