Banking

NBE offers 3-year savings certificate with annual return of 17.25%

The bank issued another 3-year certificate with annual return of 16.25%, which will be disbursed quarterly, and with annual return of 16.5% in case of...

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Al-Sharif Group, NBE sign EGP 978.2m financing contract for Shepherd Hotel renovation

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QNB Al-Ahli cooperates with VISA to promote electronic payments

Latest in Banking

Renewing SME initiative for another 4 years: CBE’s Amer

Banks pumped EGP 160bn to finance 86,000 small, medium enterprises

Capital flows return to emerging markets in September after August exit: CBE

Direction of capital movement remains dependent on future outlook of economic activity growth rates, development of global trade tensions

Foreign investments in Egypt’s T-Bills rise to EGP 254.30bn December 2019

Increase of total outstanding balances of T-Bills to EGP 1.512trn 2019-end

Banks’ credit facilities reach EGP 1.84trn November 2019

Private business sector accounted for 59.2% of the total facilities, and the industrial sector is at the forefront of the sectors that benefit from it: CBE

Egypt’s domestic debt falls to EGP 4.186tn; external debt up to $109.3bn Sept. 2019: CBE

External debt service reaches $2.9bn, including $1.7bn in instalments, $1.2bn in interest

CIB launches Prime Me bundle targeting Millennials

The bundle features a range of banking and non-banking benefits, based on the Bank’s BONUS Points reward scheme

Misr Insurance Holding eyes 10% growth in consolidated net profits: chairperson

Company’s plan relies on achieving ambitious growth rates in various activities that lead to achieving the target profits

NBE targets 15-20% growth in all sectors: vice chairperson

We aim to channel more financing to SMEs and retail loans: Aboul Fotouh

“We aspire to put HDB among Egypt’s top 10 banks”: Ghanem

We aim to focus on industry in our next plan, in implementation of the initiative launched by the CBE to support this sector

Credit Agricole Egypt embarks on digital transformation plan for three years

Bank will be part of the CBE’s initiative to support industrial sector

Geopolitical events cast shadow over expectations of pound’s interest, reserve, inflation

I expect a rate cut from 2% to 3%, exchange rate to EGP 14-15: Abdel Aal

IDB profits reach EGP 512m in 2019

We continue to support and develop Egyptian industries to achieve sustainable development: Fahmy

Egypt’s external debt up 17.3% YoY to $108.7bn in FY19

External debt-to-GDP ratio 36% in Egypt, 48.5% in Latin America, 47.5% in Middle East

SAIB launches new brand identity

Identity and branding reflect the bank’s core values of unity, trustworthiness, strength, and stability: El-Kholy

WB delegation, Trade, Industry min. discuss economic reforms’ priorities

Another WB mission to visit Egypt next week

MPC holds first meet in 2020 on Thursday

CBE to hold 9 MPC meetings this year

CIB continues digital transformation strategy with CR2’s mobile banking app

The mobile banking service is powered by CR2’s digital banking platform, BankWorld, enabling rapid deployment of new services in a secure and highly scalable environment.

FEB demarcates 25% of slums development budget for education: Ezz Al-Arab

FEB allocates EGP 100m for establishment of Egypt’s first sustainable school “Hawiytona”

CBE supports tourism with three initiatives

Tourism is a major and important pillar for the national economy: CBE

CBE receives 38 bids to invest $966.9m in T-Bill auction

Growing value of gold reserves pushes FX reserves to its highest level at 2019-end

NBE arranges EGP 242bn syndicated loans over last 3 years

Bloomberg ranks the NBE first in managing syndicated loans in Egypt

CBE offers $800m bill tender on Monday

The proceeds of the tender goes to repay a previous tender offered on 8 January 2019 worth $845.1m

10 main tasks before CBE’s new board

New board includes financial, legal, technological and economic expertise alongside the governor, deputies

NBE studies establishment of rowing club in Cairo

Bank to continue sponsoring the Egyptian Rowing Federation and other games in coordination with the Ministry of Youth and Sports, says Aboul Fotouh

NBE’s financial position records EGP 1.7trn in 2019

Bank’s deposits reached EGP 1.3trn, while loans were EGP 570bn, including EGP 90bn of retail loans and EGP 57bn for SMEs funding, says Aboul Fotouh

Al-Ahly Medical to establish its first-ever hospital soon, costing over EGP 100m

The NBE’s Vice Chairperson Yehia Aboul Fotouh said the company has previously established three health centres, and intends to expand in the establishment of such centres in the coming period.

CBE to offer $800m worth T-Bills next Monday

The proceeds of the tender goes to repay a previous tender worth $845.1m offered on 8 January 2019

IDB to open first business centre in Borg Al Arab in 2020

Among those activities was the bank’s sponsorship of the Business Centre for design and manufacture of modules, with its extensive experience in the field of financing and supporting industrial activities.