Latest in Banking Highlight
Latest in Banking
ABE to install 25,000 POS terminals at agricultural entities nationwide: Chairperson
Bank has issued about 1.6m Meeza cards and 85,000 smart cards to farmers, says Alaa Farouk
IDB prepares to launch full range of digital banking services: Chairperson
Bank has allocated significant budget to achieve comprehensive technological development, establish electronic branches, says Maged Fahmy
Significant increase in customers using Bank Audi electronic channels: Egypt CEO
COVID-19 has contributed to changing behaviour patterns of large proportion of banking sector customers, says Mohamed Bedir
HDB offers digital services compatible with all customer segments: Chairperson
HDB Net presents over 15 comprehensive online banking services, says Hassan Ghanem
COVID-19 helps banks expand in digital services: CIB Official
CIB adopts long-term strategy to develop digital channels, automate payments, says Mohamed Farag
Time for digital revolution in Egyptian banking system
CBE takes steady steps, initiatives to support fintech in Egypt
Al-Sisi directs banks in Egypt to continue local market support, development financing
About EGP 180bn has been invested in 120,000 companies as part of CBE initiative to support MSMEs, says CBE Governor
HDB reports EGP 1.3bn in PBT during H1 2020 despite COVID-19
Bank’s portfolio of customer loans and facilities achieves 8.6% growth to EGP 21.4bn
Suez Canal Bank reports 31% net profit growth in June
Bank sells its entire stake in MIDOR to EGPC for $30.6m
CBE reveals reasons behind July inflation decline
Annual headline urban inflation declines to 4.2% in July, from 5.6% in June 2020
Egypt banks celebrate International Youth Day with increased support for financial inclusion
Egyptian banks to support new accounts at no minimum amount or fees, free e-payment cards
Businesses plan major operational changes as resilience prioritised: HSBC Navigator
The new Navigator report, “Building Back Better”, from HSBC Commercial Banking, shows that many firms neglected contingency planning in key operational areas such as technology, finance and sustainability prior to the crisis.
EALB to increase social housing finance to EGP 2bn
Bank’s mortgage finance portfolio has doubled to 8,000 clients
BLOM Bank to conduct due diligence on selling Egypt unit
Several banks have shown interest in buying BLOM Bank – Egypt, but Emirates NBD is making most moves to seal acquisition deal
Banque du Caire arranges EGP 670m syndicated loan to Marakez
Loan to finance 50% of total estimated investment cost of Mall of Katameya’s second phase
CBE expected to hold interest rates during next MPC meeting
Market anticipates CBE announcement, on Monday, regarding inflation in July 2020
Egypt’s net international reserves grow $113m in July to $38.315bn: CBE
Egypt’s international reserves consist of foreign currencies, gold, special drawing rights (SDR), and net IMF loans. The FX reserves support the local currency, whilst fulfilling the country’s overseas obligations, and guaranteeing Egypt’s imports of basic commodities for several months.
Banks in Egypt contribute EGP 700m to support daily labourers: El-Etreby
In exclusive statement to Daily News Egypt, El-Etreby said that the donations have been given to a fund devoted to this matter.
Egypt’s local bank deposits increase to EGP 3.268trn in June: CBE
The CBE added that demand deposits recorded about EGP 482bn, of which about EGP 192.22bn was by the household sector, and about EGP 31.3bn for the public sector. The private sector accounted for about EGP 258.5bn of the whole figure.
Egypt to offer 26 T-bills, bonds tenders worth EGP 185.25bn in August
Auctions part of government plan to borrow EGP 600bn from local market in Q1 of FY 2020/2021
NSB Board of Directors discuss restructure, development plans
El-Kabbaj said the meeting dealt with a range of topics, including the restructuring of the Board of Directors to include a select group of experts in economics, Islamic finance, banking, and the legal sector
Gold rises to 9-year high, strong expectations for continued rise
Gold remains safe haven in light of continuing global storms, says Abdel-Aal
Digital transformation in banking no longer luxury: Credit Agricole’s Finas
After coronavirus, digitalising financial services become necessary to ensure customers’ comfort, safety, says Credit Agricole official
AOI to support Agricultural Bank of Egypt’s digital transformation
AOI Chairperson Abdel Moneim El-Terras stressed that the agreement reflects President Abdel Fattah Al-Sisi’s directives regarding Egypt’s digital transformation. He also emphasised that AOI has allocated all its capabilities and technological expertise to developing Egypt’s banking institutions.
NBE, Banque Misr contribute EGP 60m to Health Ministry’s COVID-19 fight
NBE donates EGP 8bn in past 6 years, while Banque Misr gives away EGP 3.2bn in 5 years
Parliament approves new Banking Law ensuring monetary stability
The approval was given after a standing vote on the new law, with a two-thirds majority of the parliament members voting their approval.
New facilities to remove levy on taxpayers’ bank accounts: CBE
This is applicable on natural or legal persons regardless of their activity. Moreover, the door for appeals will be opened to taxpayers again.
Crédit Agricole Egypt postpones over 120,000 facilities amid COVID-19 battle
Banks records sharp 45% increase in company’ digital transactions and 35% for individuals
IDB finalises its technological infrastructure, prepares e-services launch
Bank allocates EGP 600m to comprehensive technological development, establish electronic branches, expand geographical spread, says Fahmy
Private sector holds 61.7% of total bank loans in April: CBE
Total deposits see 14.33% growth in April, compared to 13.9% in March; foreign currencies share fell to 17.01%