Latest in Banking Highlight
Latest in Banking
HC expects interest rate cut by 100 bps at CBE’s Thursday meeting
Inflationary pressures to ease dramatically following July’s subsidy lift, says Monette Doss
Orascom Construction to build HDB headquarters at the NAC for EGP 636m
Building located on 9,843 sqm, to be completed in 18 months
UNB – Egypt eyes 3% market share by end-2023: El-Sewerky
Bank working to advance production, achieve sustainable development in Egypt by focusing on vital sectors such as industry, renewable energy
Youth tops CIB’s priorities: Abaza
“We seek to keep pace with banking developments in the world,” says bank’s CEO
Banks’ SMEs funding amounts to EGP 146bn, targeting EGP 200bn by year-end: El-Etreby
The CBE has instructed banks working in the local market to allocate 20% of their loan portfolios to finance SMEs. El-Etreby pointed out that NGOs were also included within this segment.
Banks reduce NPLs allocations by EGP 2.95bn in June 2019
Reserves declined to EGP 236.06bn end-June, compared to EGP 238.89bn end-May
Household sector accounts for 80.4% of total bank deposits
It accounts for 83.6% of total deposits in local currency, 68.7% in foreign currency
EBI’s role goes beyond training employees in banking sector: Nossier
Institute started offering more developed training courses to support financial inclusion, says EBI Executive Director
AAIB arranges EGP 6bn securitised bonds, Egypt’s biggest transaction in 2019
A securitisation transaction is a debt capital market financial instrument whereby future receivables are converted into financial securities which can then be listed and traded on the stock exchange.
Madbouly, Amer inaugurate 43rd session of Council of Arab Central Banks Governors, Arab Monetary Associations on Sunday
Meetings discuss latest economic, financial, monetary developments, banking supervision, financial stability, inclusiveness, and modern financial technologies, according to AMF
Bank deposits up by EGP 95.471bn recording EGP 4.007tr in June
Banks’ credit facilities see EGP 224.7bn rise, private business sector holds 60.7%
Domestic public debt records EGP 4.205tr in end-March
Domestic debt records 79% of GDP, of which 86.4% is owed by the government, 7.3% by public economic bodies and 6.3% by National Investment Bank
Subscription in ATAA charitable fund to start on 7 October: NSB
The NSB’s board of directors agreed to allow Banque Misr, the National Bank of Egypt (NBE), and the Suez Canal Bank to receive subscription, purchasing, and underwriting offers for the fund.
ABE participates in launching digital platform for agriculture
This platform recognises the ABE’s role in the digital transformation in Egypt, Chairperson of the ABE Elsayed Elkosayer said.
EBE allocates EGP 200m to develop its technological infrastructure in FY 2019/20
In a statement to Daily News Egypt during his participation at the Euromoney conference on Monday, Galal said the bank is reviewing its budget on an ongoing basis, according to market developments and services provided.
Non-bank financial activities use financial technology to shape new future
The FRA’s plan includes proposing the appropriate legislative amendment to adopt electronic means as an approved means of notification, and deal with the entities subject to the FRA’s control
Successes achieved in financial inclusion qualify Egypt to become regional fintech centre: Raouf
Egyptian Banks Company has completed all the technical, infrastructure matters necessary to implement electronic payment system
Egypt becoming more business friendly, progressing toward digital economy: Blanchet
Banks play an important role in supporting, promoting FDI, financial inclusion
Banks’ demand for fintech training programmes dramatically increased: Nossier
There is constant cooperation, coordination between EBI, CBE’s payment systems, IT department
UNB-Egypt to expand strongly in technological services over next 5 years: El Sewerky
‘We are contracting an electronic payment company to provide repayment of loan instalments, credit card dues electronically’
E-Banking future of banks inside, outside Egypt: Ozalp
Blom Bank Egypt launches contactless payment service via credit, debit cards
We have come a long way in developing IDB’s technological infrastructure: Fahmy
Bank is moving to open branches, plans to launch a number of e-banking services in next few months
Egypt eligible for penetration of e-payments: Gaber
Visa seeks to expand acceptance of digital payments in Egypt in cooperation with financial institutions, Egyptian government, FEDCOC, service providers
Crédit Agricole Egypt’s strategy prioritises our customers’ satisfaction: Finas
Crédit Agricole Egypt launched banki Wallet, offering individual clients a new method for easy, secure payments
ABE to develop digital structure, train workers: ElKosayer
Bank is targeting to issue 2.5 million Meeza cards in three years
Banque du Caire eyes comprehensive development of mobile payment services: Fayed
Bank intends to launch corporate Internet banking and mobile banking soon to reach the various customer segments and meet their needs
Banks issued over 31m e-payment cards in Egypt by end-2018: CBE
Largest ten banks in Egypt hold more than 81% of credit and debit cards
Bank financing’s contribution to budget deficit declines in 2Q19: CBE
Investors’ shift from T-Bills to T-Bonds reflects positive change in their macroeconomic outlook of Egypt
AAIB sets up EGP 1.5bn syndicated loan to Marakez
Loan to finance 50% of new mall on Cairo-Sokhna road
Data protection, cybersecurity key to ensure reliability of digital services in Africa: Ezz Al-Arab
CIB chief calls for early warning systems to combat financial crime on continent