Latest in Banking Highlight
Latest in Banking
Remittances in Egypt reach $26.8bn in 2019: CBE
The CBE added that remittances in the second half (2H) of 2019 surged by about $1.6bn to $13.7bn, compared to $12.1bn in the corresponding period in 2018.
Banks stand up against Coronavirus to protect employees, clients
CIB suspends all internal activities including gatherings in large numbers, limits training to online courses
CBE cuts interest rate by 3% in emergency MPC meeting
CBE has taken strong measures in anticipation of possible impacts of global conditions on Egypt’s economy, says Tarek Amer
EBI limits its training services to e-learning due to COVID-19
Total number of trainees through e-learning reached 20,000 until February 2020: EBI Executive Director
CBE takes measures against Coronavirus, repercussions on economy
MSMEs loan installments postponed for six months without fines
CBE reviews efforts to support e-payment, FinTech systems
CBE launches Meeza, Non-Cash Payment Law, FinTech Regulatory Sandbox, e-collection of government’s payments
Dollar adds 6 pt for its value against Egyptian pound, records EGP 15.65 at end of Monday’s trading
On Monday, the official price of the dollar at the Central Bank of Egypt (CBE) reached EGP 15.6543 for buying and EGP 15.7761 for selling, compared to EGP 15.5865 for buying and EGP 15.713 for selling on Sunday.
Creating job opportunities essential job of central banks: CBE Deputy Governor
CBE supports economy with many initiatives in face of crises such as COVID-19, says Negm
Nilepreneurs: national initiative aims to support small projects, entrepreneurs
Initiative seeks to provide comprehensive, effective infrastructure to support small projects
CBE to issue EGP 212.5bn worth T-Bills, Bonds in 3Q20
16 T-Bills bids worth EGP 175bn, 10 T-Bonds bids worth EGP 37.5bn to be issued this month
Total financial position of banks in Egypt increases to EGP 5.856trn at 2019 end: CBE
Bank deposits increase to EGP 4.2359trn, household sector denominated 81.3%
NBE provides EGP 1bn credit facilities to Fiber Misr
The signing ceremony was attended by Chairperson of NBE Hesham Okasha, Chairperson and CEO of Fiber Misr Ahmed Mekky, Deputy Chairperson of NBE Yehia Aboul Fotouh, Deputy Chairperson of Fiber Misr Sherif Nabih, and Head of NBE’s Credit Group for Corporate and Syndicated Loans Sherif Riad
Suez Canal Bank’s profit reach EGP 542.2m by end of 2019
Deposits up by EGP 5.5bn, loans increase by EGP 1.9bn in one year
Banks in Egyptian market show strong performance by 2019 end
CIB – Egypt ranks first with profits of EGP 11.8bn, QNB Alahli ranks second with profits of EGP 8.522bn
Banque du Caire’s net profit nears EGP 4bn in 2019
Deposits up to EGP 151bn, loans EGP 79.2bn; SMEs portfolio grows by 146%
Expected change in banks map Egyptian market
Expected exits, acquisitions, mergers, against Lebanese crisis, implementation of new banking law
Deutsche Bank expects US dollar to reach EGP 15.5 by June, EGP 15 by December
Bank expects inflation to continue declining to single digits this year
Egyptian pound appreciates to its highest since flotation
Banque Misr received $2bn in January, $15.6bn in 2019: El-Etreby
Local, international investors offer to invest $1.054bn in Egyptian T-Bills
The CBE rejected other offers from investors who requested an interest of 4.10%.
Egypt’s awaited banking law to revolutionise sector: Khodeir Partners co-founder
Khodeir’s comments came during a roundtable discussion held to tackle the banking draft law and its role in enhancing Egypt’s economic development.
NBE, QNB syndicated loan of EGP 1.8bn to Concrete Plus Engineering, Construction
20% of the total cost of implementing a housing compound project in the beach area of New Alamein City
CBE offers $900m in T-bills on Monday
Proceeds to cover a previous bid floated on 12 February 2019 worth $1.0141bn
Household sector’s trend towards deposits of three-year term or more ongoing since 2018
Weighted return on new deposits declines in September 2019 to 11.5%, 16% on loans
CIB launches new personal loan product for low-income payroll customers
The new personal loan is dedicated to customers with a monthly salary starting from EGP 2,600. The personal loan ranges between EGP 10,000 – 30,000. The loan offers customers repayment in fixed instalments over 12-36 months, and a full waiver of all administrative and assessment fees.
BLOM BANK has no intention in exiting Egyptian Market: statement
It is noteworthy that recently, there was some news circulating about a Saudi Arabian bank offering to buy BLOM Bank Egypt.
Attijariwafa Bank launches initiative to limit single-use plastic bag consumption
The bank aims to expand its participation in environment conservation and to apply these mechanisms on a larger scale.
CIB aims to raise EGP 15bn to finance expansion
CIB’s consolidated net income grows by 23% to EGP 11.8bn in 2019, proposes EGP 1.25 dividends per share
Technology main player in financial inclusion: Hisham Tawfik
NBE, Misr Life Insurance jointly launch ‘Tomorrow Pension’ bank insurance product
CIB deploys digital solutions to revolutionise banking sector
Bank aims to teach younger generation how to manage their money, grow their assets: deputy chief operation officer
CIB named constituent of 2020 Bloomberg Gender Equality Index
The bank is the only Egyptian institution to be included among the 325 companies in Bloomberg’s Gender Equality Index