Optimism amid crackdown on informal market stabilise unofficial currency exchange pool: Banker
Trading currency is becoming difficult and the price is seeing large variation due to the embargo on the currency mafia, says Abdel Aal
Hossam Mounir
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Banque du Caire prepares to fund Suez Canal Development Projects: executive board member
The bank is prioritising its available US dollars to raw materials and production requirements, says Mokhtar
HDB Loans portfolio amounts to EGP 8.7bn as of June: chairperson
Net profits of the bank reached EGP 394.7m in the first half of 2016, increasing 22.6% y-o-y, says El-Sebai
US dollar shortage restricts activities of credit leasing companies
Import companies have suspended operations amid difficulty opening letters of credit, says CEO of A.T. Lease
CBE provides 10-year interest-free loan worth EGP 31bn to 3 major banks
The loan is for supporting banks’ capital base and for adjusting the capital adequacy rate
CBE secures government needs of euros through €600m treasury bills tender
The CBE received 35 offers to cover the tender totalling €786.9m, and accepted 29 for €651.9m
Road accidents cost an estimated EGP 30.2bn in 2015: CAPMAS
The estimated value of the minimum economic cost of road accidents in Egypt in 2015 reached EGP 30.2bn, according to the Central Agency for Public Mobilisation and Statistics (CAPMAS). In the agency’s road accidents cost study for Egypt in 2015 issued on Monday, CAPMAS explained that the cost is calculated by using ‘loss of output’ …
Treasury bond balance increases by EGP 5.1bn at end of July: Finance Ministry
The Ministry of Finance has announced that the government’s outstanding balance in local currency treasury bonds reached EGP 750.1bn by the end of July, an increase of EGP 5.1bn from EGP 745bn in June. A recent report issued by the Ministry of Finance details two types of bonds in Egyptian pounds. The first is the …
Parliamentary committees approve PBDAC Act, transfer of its ownership to the CBE
We are awaiting the final vote; this move would restore the bank’s real role in serving Egyptian farmers, says bank chairperson Elkosayer
Total value of banknotes issued increases by EGP 10bn in May: CBE
Banknote issuance recorded its highest level to GDP since June 2015
I-Score warns against fraudulent companies claiming to improve credit ratings
No entity or person, no matter the authority he/she has, can intervene in the credit report the banks conduct about their customers—not even I-Score itself
The United Bank launches service of instant self-enquiry about creditworthiness for its customers in cooperation with I-Score
The bank is to launch a package of new digital solutions to meet the customers’ needs, said El-Kady
Banks to finish classifying SMEs, microenterprises to be financed by end of August: I-Score head
Nile Rating Company, specialised in SMEs, has merged in I- Score, said Kafafi
The United Bank to be sold late 2016, early 2017: chairperson
The CBE received requests from a large number of international institutions to acquire the bank; it will shortlist the institutions that will examine the bank, said El-Kady
Egypt to repay international bonds worth $3bn in December 2016: Finance Ministry
Egypt has other bonds worth $3.5bn that will be repaid in the period from 1 June 2017 until 29 April 2040
Metropolitan Egypt negotiates with Egyptian Gulf Bank, Banque Misr to provide financing for Enmaa projects
Enmaa needs financing worth EGP10m in the form of letters of guarantee for tenders
Would drop in reserves delay floating of EGP despite IMF report?
The timing of this move is in the hands of the CBE and is associated with many factors, not only the level of reserves, say analysts
Banks continue to curtail US dollar use overseas
Banks are lowering limits of different types of cards and reducing hard cash granted to its clients when traveling
Would shutting down exchange companies solve the US dollar crisis?
Opponents to the proposal point to the companies’ role in securing hard cash to non-bank customers, and claim that controlling them is easier than chasing traders on the streets
Exchange companies to hold expanded meeting, discuss repercussions of official and popular escalation against them
We are ready to close immediately if this would solve the US dollar crisis, says El-Abyad
PBDAC negotiates with SFD to obtain EGP 100m loan: PBDAC chairperson
The loan will finance agricultural industrialisation projects and greenhouses at low cost, says Elkosayer
Inflation to increase to 15-16% by end of September after electricity price rise
Decrease in poultry prices limited the increase in the inflation rate in July, says CAPMAS
Return to normal demand on US dollar in informal market
CBE allocates the value of Tuesday’s tender to cover imports of medicines, vaccines, and baby formula
Egypt pays $2.25bn of external debt in July: CBE
Foreign exchange reserves dropped $2bn in July, reaching lowest point since January 2015
Government banks rely on own resources to obtain US dollars, not on CBE tenders: head of Banque du Caire
Banque du Caire, along with all state-owned banks, does not obtain its US dollars from tenders of the Central Bank of Egypt (CBE) held on Tuesdays, said CEO and chairperson of Banque du Caire Mounir, El Zahid. El Zahid told Daily News Egypt that the National Bank of Egypt, Banque Misr, and Banque du Caire …
Banque du Caire enhances its role in social responsibility in 2015: El-Nahas
The bank launched numerous humanitarian initiatives, most importantly the charity convoys that provide services to citizens in Upper Egypt villages
Banque du Caire aims for 10-12% growth in loan portfolio by year’s end: Financial Sector manager
The bank aims to increase its deposit portfolio to EGP 91bn, says Ismail
Banque du Caire aims to become the strongest bank supporting SMEs: CEO
Banque du Caire seeks to become the strongest bank operating in the Egyptian market in the field of small- and medium-sized enterprises financing (SMEs), according to Mounir El-Zahid, CEO and chairperson of the bank. El-Zahid said that the bank has considerable experience in financing these projects. It has created a separate department for SMEs, trained …
Banque du Caire to remain under state control after increasing its capital by 20% on EGX: chairperson
The bank will continue its role in serving the economy, even after the government’s stake in it is reduce
Banque du Caire profits increase by EGP 690m in 2015: El-Zahid
All of the bank’s profits resulting from real operations, not the product of asset sales, says chairperson