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

DNE Break

QNB Al-Ahli cooperates with VISA to promote electronic payments

Latest in Banking

Emirates NBD – Egypt contributes to financing Farm Frites’ new factory

Bank to expand in financing large companies to support economic development in Egypt, says Azab

IDB targets over EGP 0.5bn profits by end-2019: chairperson

We aim to achieve 30-35% growth in various activities this year, says Fahmy

NBG-Egypt’s intransigence with its employees threatens acquisition deal with Bank Audi

CBE gives last chance for conflicting parties to reach solution

Banque du Caire, MSMEDA sign EGP 500m microfinance contract

Banque du Caire’s microfinance portfolio reaches EGP 6.5bn benefiting 240,000 customers, targeting EGP 7bn by year-end, says Fayed

The Biggest Ever Cases of Bank Fraud

Bank fraud is the criminal act of breaching the security measures of a financial institution to steal funds or obtain delicate client information illegally.

IDB to increase mortgage finance to low-income customers to EGP 1.5bn

The financing is offered at 5% and 7% interest rates, as part of the Central Bank of Egypt (CBE)’s Mortgage Finance Initiative.

20 banks finance 254,200 beneficiaries by EGP 24.6bn in CBE’s mortgage finance initiative

8 companies inject EGP 1.5bn, Taamir Mortgage tops with EGP 551.6m with 4,800 clients

14.8% growth in Faisal Islamic Bank of Egypt’s assets during 2019

Bank manages 1.701m accounts for its clients worth EGP 82.896bn

Arab banking sector is stable, able to withstand shocks despite challenges and risks: AMF

Arab banking sector assets reached $3.4trn by end-2018 equivalent to 124% of Arab countries’ GDP

SMEs account for 61% of the total ABE loan portfolio: ElKosayer

Bank pumped EGP 19bn to about 900,000 SMEs

Egypt’s Long-term external debt at 87%: Amer

13% of short-term debts are deposits from Arab countries that are renewed every four years

CBE issues new regulations for microfinance in banks

Excluding credit portfolios purchased from micro finance companies or associations in 20% allocated to SMEs from loan portfolios at banks

ABE signs cooperation protocol with World Food Programme

It’s part of bank’s efforts to support, finance development projects, especially in rural areas, ElKosayer

Egypt’s new banking draft law: opportunities and challenges

New law reinforces the independence of the CBE and banks’ boards of directors, prepares Egyptian market for a new era in financial technology

Al Baraka Bank, ADIB, and EG Bank most negatively affected by New Banking Act: Prime Holding

Banking act may spur a wave of consolidation amongst smaller or undercapitalised banks

Settlement on workers’ rights to delay approval of NBG-Egypt sale to Bank Audi

Tripartite meeting of CBE’s Legal Advisor, Regional Director, and Legal Affairs Director at NBG Bank to discuss employees’ demands

NBE arranged syndicated loans worth EGP 28bn during Q3 2019: Bloomberg

Bank arranged a syndicated loan of EGP 1.7bn for Redcon Construction in cooperation with QNB Al Ahli

Egypt’s net foreign reserves break $45bn, the highest level ever

We need to study the reasons for the high BOP deficit, especially in exports and FDI, says Abdel Aal

Credit facilities by banks fall EGP 35.2bn in July to EGP 1.8trn: CBE

Private sector receives 60.3% of total facilities, industry at the forefront of beneficiaries, says CBE

Egypt’s current account records $8.2bn deficit in FY 2018/19: CBE

BOP records 0.1bn deficits, oil trade balance records $8.1m surplus, FDI net inflows decrease by $1.8bn to $5.9bn

Banks apply limited interest cuts after CBE slashes basic rates

Most cuts were limited to variable return certificates

Egyptian pound gains 5 piasters against the US dollar despite CBE’s interest rate cut

The average official price of the US dollar at the Central Bank of Egypt (CBE) fell to EGP 16.2186 for buying and EGP 16.3186 for selling on Sunday, down from EGP 16.2669 for buying and EGP16.3669 for selling last Thursday.