Hossam Mounir

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Latest by Hossam Mounir

Non-performing loans fell to 7.2% of total by end of September 2015: CBE

CBE issued its Financial Soundness Indicators report, where the loans-to-deposits ratio increased to 42%

CBE decides to raise maximum foreign currency deposit cap to $250,000 monthly

Decision applies only to companies to facilitate import operations of main and basic commodities

NBK records $929.7m in net profits for 2015

The group aims at strengthening its position in Egypt and increasing growth rates in the coming period, says CEO

CBE demands that banks tighten security measures around their offices on 25 January

Falcon deploys fast intervention cars around institutions it secures to support its personnel at any time

Limited impacts for recent CBE lending controls: Beltone

Reducing maximum loan per customer and bank contributions in capital market funds for better risk management and to diversify its applications

Banks race to implement CBE’s programme for funding SMEs

Both Banque Misr and the Industrial Development and Workers Bank of Egypt have begun proposing funding programmes with a 5% declining annual interest rate

EGP 29.3bn increase in bank deposits, EGP 10.8bn increase in loans in October 2015: CBE

Household sector acquires 77.6% of deposits in the local currency and 63.2% of deposits in foreign currency, private sector acquires 75.8% of loans

AAIB predicts a better outcome with new offers and services in 2016

Bank is targeting about 30% average growth on retail, says head of retail

Egypt ripe for electronic payments due to widespread use of mobile phones: Visa Egypt GM

Visa accounts for 61.5% of total cards issued worldwide, its share in Egypt is similar, says Mahfouz

72m credit facilities registered in I-Score database as of October 2015

140,500 SMEs work with banks and banking sector should support these companies more

NCR aims to boost Egypt business to EGP 1bn over next 3 years

Company accounts for about 90% of ATMs in Egypt, says Africa Managing Director

Retail banking accounts for 24% of Bank Audi Egypt’s total loans portfolio

EGP 3.8bn in individual loans from bank throughout September 2015, with an aim to increase this figure by 30% this year, says head of Retail Banking

QNB-Alahli retail banking portfolio records EGP 13.09bn at end of 2015

The bank offers more than 40 different retail banking products, with more to come

United Bank aims to expand SME financing in 2016

Bank is reconsidering investment policies and will open 12 new branches to focus on developing the Suez Canal area, says Abdel Hamid

HDB aims to inject EGP 500m in retail loans over 2016

Retail loans constitute 58% of the total loans portfolio in the bank, says Assistant Managing Director

CIB-Egypt launches innovative digital products, aims to attract more new customers during 2016

CIB puts simple conditions on opening accounts for youth to attract them to the banking sector

Bank’s proposals published to break deadlock of CBE’s retail banking regulations

Banks request CBE not to impose these regulations on all customers and to divide them in categories based on income

Banking sector witnesses major shift in methods of providing services

Greater reliance on technology alongside declining role of traditional branches

Egyptian Bank Federation signs MoU with Congolese Banking Association

The MoU was signed with the collaboration of the Egyptian Ministry of Foreign Affairs and the Egyptian Ambassador in Kinshasa, Democratic Republic of Congo.

Banque Misr begins activating CBE initiative to finance SMEs with 5% yield

This springs from the bank’s commitment to promoting economic development and contributing to the development of society by fighting unemployment, increasing the gross domestic product (GDP), and achieving sustainable development.