Latest in Banking Highlight
Latest in Banking
CBE offers $500m worth T-Bills on Monday
Proceeds to cover a previous offer worth $715m issued on 11 June 2019
Recent devaluation of Egyptian pound against US dollar normal, temporary: banking pundit
Like all currencies worldwide, local currency bound to be affected by current exceptional circumstances
US dollar appreciates slightly to EGP 15.92 at CBE
The Swiss franc reached EGP 16.5466 for buying and EGP 16.6522 for selling. The Japanese yen recorded EGP 14.7044 for buying and EGP 14.8035 for selling.
COVID-19 accelerates HSBC existing transformation plans to digital services: Group General Manager
Bank has made strong contribution to all CBE initiatives to support economy in these difficult times
CBE offers EGP 20bn in T-Bills as market awaits Finance Ministry move
The CBE will issue Treasury Bills and bonds worth EGP 186bn in May, as part of a government plan to borrow EGP 610bn between April and the end of June 2020.
CIB launches new online platform for financing supplier needs
It supports solutions and programmes to increase the working capital of the supply chain network whilst lower financing costs, speeding up operations, and providing lower risk.
CBE takes measures to reduce economic impacts of COVID-19
We moved quickly to preserve economic gains since launch of national economic reform programme, says CBE
NBE achieves unprecedented EGP 300bn deposits boom
Significant increase, brings bank’s deposit portfolio to EGP 1.5trn
Suez Canal Bank sells stake in MIDOR for $30.6m
The Suez Canal Bank had owned a total of 560,000 shares, representing 1.27% of MIDOR’s capital.
CBE’s Monetary Policy Committee convenes to decide on interest rates
Maintaining local currency attractive amid economic uncertainty due to Covid-19 crisis suggests keeping rates unchanged
Banque du Caire, EIB sign $100m loan agreement to finance SMEs
Fayed also emphasised that Banque du Caire’s keenness to boost and diversify its foreign currency funding resources is directed at financing SMEs, which are a cornerstone in economic growth and sustainable development.
CIB commits $7m to test kits, support families impacted by COVID-19
The CIB contribution will also be dispersed to the National Emergency and Crisis Fund, as part of efforts to combat the virus.
CBE reveals February 2020 data for banks operating in Egypt
Financial position of banks operating in local market touches EGP 6trn, deposits and loans rise
Digital banking on the rise owning to coronavirus push
Allowing self-registration for e-wallet services contributes to speeding up digital transformation of financial transactions
Egypt’s NIR decline to $37bn in April: CBE
Bank honours all of its external obligations amounting to around $1.6bn
NBE leads banking consortium to provide €30m syndicated loan to MidElec
Hisham Okasha, Chairperson of NBE, said the arrangement of this loan comes in light of the participating banks’ strategies to provide necessary funds for energy projects in local and foreign currencies because of their importance in advancing development and supporting the Egyptian economy.
CIB net income down 9% to EGP 2.4bn in 1Q 2020
ROAE records 19.6%, ROA 2.5%, net profit decreases 9% y-o-y
CBE receives 31 bids to invest $1.095bn in T-Bill auction
25 offers worth $975.4m were accepted
CBE offers $800m in 1-year treasury bills on Monday
Proceeds cover a previous tender, worth $1bn, offered in May 2019
Transition to online learning part of EBI vision before Covid-19 crisis: Abdel Aziz Nossier
EBI to launch ‘Future Leaders’ online training programme for African Central Bank on 4 May
Central banks lose over $175bn of FX reserves due to COVID-19
Egypt’s banking sector has survived decline in foreign investments, reflecting economic stability
Bank Audi – Egypt announces positive COVID-19 case at administrative building
Bank Audi – Audi has informed the Ministry of Health of the situation, and highlighted that the adequacy and integrity of the procedures followed and taken by the bank were checked.
NBE issues new investment certificates, raises return on another
The NBE has also decided to increase the return on another 3-year Group B investment certificate. The certificate’s annual return was originally 12%, which has now risen to 12.5%, to be paid every three months.
Arab central banks council highlights digital transformation on Financial Inclusion Day
Implications of coronavirus highlight importance of accelerating transition to digital financial services, says regional council
CBE highlights financial soundness indicators of local banking sector
Bank profits reach EGP 83.184bn last December: CBE
CIB acquires 51% of Kenya’s Bank Mayfair in $35.35m deal
The deal reflects our commitment to increasing trade between African countries, says Ezz Al Arab
Egypt’s banks report EGP 83.18bn net profits in 2019: CBE
Top 5 banks account for 50.1% of sector’s total profits, top 10 achieve EGP 58.7bn profits
Daily cash withdrawal, deposit limits for individuals amended during Ramadan
Individuals can withdraw up to EGP 20,000 daily from ATMs, EGP 50,000 in banks, says FEB Chairperson
NBE raises authorised capital to EGP 100bn, paid-up capital to EGP 50bn
Bank sees significant e-banking services expansion during FY 2018/19
CBE issues new controls on loan instalment postponement
In March, the CBE issued regulations due to the coronavirus oubtreak allowing borrowers to defer paying instalments on bank loans for a period of six months.