NBE, Banque Misr to post joint profits exceeding EGP 9bn
Banque Misr achieved net profits of EGP 2.51bn after taxes in FY 2013/2014, while the NBE achieved net profits of EGP 3.7bn in the same year
Hossam Mounir
3158 Articles
Latest by Hossam Mounir
Audi Bank-Egypt EBRD sign $30 loan agreement to support SMEs in Egypt
The ERBD will use the loan to further its strategy in Egypt which aims to bolster economic development through the provision of funding for small and medium enterprises
Seasonal fall in vegetable prices behind decline in inflation in January
Value-added, reduction of imports, and depreciation of the pound stand behind curbing inflation next year: Hermes
NBE invested EGP 4bn into tourism after 25 January Revolution
The NBE has invested a total of EGP 13bn in the tourism sector and the bank has continued to support these investment despite poor conditions in the industry, according to Executive Board Member Yehia Aboul Fotouh
Outstanding balances of treasury bonds increased by EGP 13bn
Total value of bonds issued in EGP increased to EGP 698.85bn until 12 January 2016
We will not put depositors’ money at risk by investing in stock market: Banks
Foreign banks prevent branches from investing in stock market, Egyptian banks resort to creating subsidiary companies, investment funds
SECON content with capital volume as Nile Towers project continues
The agreement secured EGP 600m to fund the SECON Nile Towers project
$90m increase in value of gold listed in forex reserves in January: CBE
The central bank awaits the Chinese loan and the first portion of the World Bank loan to reinforce reserves
13% of IDBE’s loans portfolio goes to SMEs: Chairman
The bank seeks to raise loans to SMEs to 20% by late 2016, says El-Kosayer
NBE finances 45,000 SMEs with EGP 19bn
The bank participated in the CBE initiative for financing small and micro businesses with a yield of 5% and payment terms up to seven years
SECON secures EGP 507m from NBE and Banque Misr for Nile Towers project
Deputy Minister of Housing and Vice Chairman of SECON Mohamed Essam El-Deen said the Egyptian government intends to support and develop the company’s investments and conduct its expansion plans
Promoting tourism in Sharm El-Sheikh needs unconventional solutions, ideas: El-Kosayer
Efforts exerted by different state entities to promote tourism in the city still not enough
Visa signs MoU with Ministries of Supply and Planning for development of subsidies system
The cooperation between the three institutions aims to provide multiple options for beneficiaries of subsidies and facilitate their access in a sophisticated, secure, and transparent manner.
Dollar loses 10-12 piasters in black market
Agreement on exchange firms supporting CBE’s efforts to control exchange markets and banks obtaining Arab currencies in exchange for dollar
Bank of Alexandria launches campaign to encourage exchange of dollar remittances
We are continuing in our efforts to increase foreign currency inflows and support the Egyptian economy, says executive board member
SME loans at NBE amounted to EGP 18.5bn by the end of 2015: Chairman
The portfolio has doubled six times over the past eight years, says Okasha
Bank Audi-Egypt to expand loan portfolio to include SMEs, among other sectors
Bank Audi-Egypt increased its deposit holdings by 17%, and increased the value of its loans portfolio by 47% in 2015; in 2016, the bank aims for additional 20% increase
Banque Misr named Best Provider of Money Market Funds for eighth time
Global Finance is based in New York, and is the largest specialised financial publication in the world.
UAB recommends economic, legislative reforms in Arab countries to attract foreign investment
Participants in the forum called upon Arab banks and financing institutions to adopt new financing models for infrastructure projects, as they play a vital role in stimulating the economy.
CBE discusses ways to increase MSMEs’ funding with banks
Banks are currently preparing their infrastructure to begin implementing CBE initiative
EGP 2tn size of the Egyptian banking sector by the end of 2015: Fayed
The size of the Egyptian banking sector was EGP 2tn by the end of 2015, according to Deputy Governor of the Central Bank of Egypt (CBE) Tarek Fayed
Only 8 million of 54 million eligible citizens have bank accounts
Vice chairman of the Federation of Egyptian Banks and chairman of the National Bank of Egypt (NBE) Hisham Okasha said that only 8 million of 54 million eligible Egyptian citizens have bank accounts
CBE fixes prices of basic yield
The Monetary Policy Committee of the Central Bank of Egypt (CBE) decided Thursday evening to fix the prices of basic yield at CBE, according to its statement
Decision to propose capital increases for 2 banks on EGX is governamt’s most impotant in recent years
Chairman of the Egyptian Exchange (EGX) Mohamed Omran said the government’s and the Central Banks of Egypt’s (CBE) decision to increase capital of two banks through the stock exchange is considered one of the most important economic decisions made in Egypt during the recent years. The statement was part of Omran’s speech in the opening session of …
EGP 6bn losses in tourism sector in Sharm El-Sheikh in 3 months: South Sinai Governor
Governor of South Sinai Major General Khaled Fouda said the tourism sector in Sharm El Sheikh recorded losses of EGP 6bn over the past three months
$3.3tn of Arab banking sector assets by end of September 2015: Barakat
Only 8% of total financing in Arab banks goes to SMEs
First portion of WB loan has not entered CBE yet: CBE Deputy Governor
Deputy Governor of the Central Bank of Egypt (CBE) Tarek Fayed asserted said the first portion of the loan agreed upon with World Bank (WB), estimated at $1bn, has not entered CBE yet
Monetary Policy Committee holds first meeting in 2016 to discuss future of basic interest rates at CBE
The MPC decided during its last meeting on 24 December 2015 to raise basic interest rates by half a percentage point, resulting in an overnight deposit rate of 9.25%, an overnight lending rate of 10.25%, and a main operation and discount rate of 9.75%.
50 most influential women in Egyptian economy honoured, including 5 bankers
The ceremony will be held under the auspices of Prime Minister Sherif Ismail and will take place in the presence of key CEOs of companies, public, and private organisations in Egypt, as well as key businessmen and diplomatic officials in Egypt.
Outstanding balance of treasury bonds at EGP 685.81bn by December 2015: Finance Ministry
The ministry said in a recent report exclusively published by Daily News Egypt that there are two types of bonds in Egyptian pounds