Latest in Banking Highlight
Latest in Banking
HSBC Egypt starts dealing in China’s Renminbi
A complete suite of solutions for managing foreign exchange flows, trade settlement in RMB
GDP growth rate to continue moving onwards and upwards: CBE
Budget deficit projected to decrease to 8.2%, 7.2% of GDP in FY 2018/19-2019/20, respectively
Banque du Caire reports EGP 1.93bn net profit in 1H2019
We have many ambitious goals to achieve our strategic vision, says Fayed
Egypt scraps customs dollar; price to depend on CBE exchange rate
Government sources told Daily News Egypt that the decision was taken by the Minister of Finance, Mohamed Moeit, to unify procedures for all customs’ items.
EBI studies opening special training unit in cooperation with African countries
“We aspire to be an educational ‘beacon’ for all employees in the African banking sector,” says Nosseir
Banks’ credit facilities see EGP 218.6bn rise in 11 months
Private sector accounts for 60.8% of total facilities, with industry in the lead, says CBE
Foreign currency deposits account for 21.73% of total bank deposits end-May
Deposit growth fell to 11.34% in May from 11.46% in April
Egypt repaid $25bn of debt in two years: CBE
The CBE said in a recent report that these debts include $21bn of interest on paid loans and $5bn of debt services.
Yields on T-Bonds lose 0.85-1.38% after CBE’s interest rate cut
Banks cut interest rates amid noticeable reservation so as not to affect their liquidity in local currency
Banks pumped EGP 400m to develop informal areas in Cairo and Giza: Ezz El Arab
CIB chairperson reveals that the development process includes infrastructure, roads, water delivery, schools, sanitation
Limited interest rate cuts at banks’ on first business day following CBE decision
Yield on T-bills on Sunday’s auction dropped by 0.75-1.5%
Private sector awaits further interest cuts to resume borrowing from banks: HC
Banks are likely to extend deposit maturity to grant long-term loans without exceeding interest risk limit set by CBE
Egypt’s business community awaits more interest rates’ cuts to boost investment
Monetary easing cycle to create jobs, positively reflect on middle class, say experts
Banks to start intensive meetings Sunday to discuss implications of interest rate cuts
Government welcomes decision, investment banks forecast further cuts by end-2019, depositors are most affected,
HDB achieves EGP 1.072bn net profits June-end
Deposits up EGP 3.1bn, loans grow by EGP 1.24bn, capital adequacy ratio climbs to 19.95%
CBE interest rates cut to positively impact businesses, EGX, banks to readjust
Experts forecasts further cut before end-2019, debt instruments remain attractive
CBE slashes interest rates by 1.5%
CBE slashed overnight deposit rate, lending rate, and the rate of main operation to 14.25%, 15.25%, and 14.75%, respectively.
CBE to consider interest rates on Thursday amid expectations of cuts
Falling inflation and US interest paves the way for CBE to cut its core interest rates, say analysts
Industrial Development Bank offers funding to Shaq El-Teaban investors
Bank’s credit portfolio increased to EGP 11bn end-July, of which EGP 1.6bn were loans to individuals, and EGP 3.2bn to SMEs, says Azzam
37 local and foreign investors bid to invest €780.1m in Egyptian T-bills: CBE
CBE set accepted yield minimum at 1.4%, maximum at 1.5%, average at 1.49%
Banque du Caire to offer 30-40% stake on EGX by end-2019 or early 2020: Chairperson and CEO
Fayed statement came on the sidelines of the loan signing ceremony with real estate developer Inertia. He explained that the offering would be through a capital increase and the sale of a stake to a strategic investor, targeting around $300-400m.
Egyptians withdraw EGP 31.5bn from bank ATMs during Eid al-Adha
EGP 22.29bn were withdrawn within 5 days before Eid holiday, EGP 9.15bn in 4 days afterwards
Nine private banks in Egypt gain EGP 14.941bn net profits in 1H2019
CIB – Egypt tops the list by EGP 5.355bn profits, QNB Alahli comes second by EGP 4.217bn
Strong growth in Al Baraka Bank Egypt’s financial position supported by ample funding potential: Beltone
Beltone added that the bank’s operating expenditure increased by 11.1%, maintaining the cost to income ratio at 23.1%, while credit impairment losses showed a healthy decline of 47%, which led to a decrease in the cost of risk by 173 basis points to 148 points.
CBE issues import, export standards on foreign banknotes surplus
The CBE affirmed that these standards comes in the framework of the CBE’s continuous endeavour to maintain the sound performance of the banking system.
Egypt’s net foreign reserves rose by $565m to $44.916bn end-July
According to the CBE, Egypt’s current net foreign reserves covers more than 8 months of commodity imports.
Mashreq Bank – Egypt launches mortgage finance initiative to support low-income groups
Bank continue to participate in CBE initiatives, says El Bahey
CONIA interest rate benchmark comes into force
New standard reinforces CBE’s ability to improve monetary policy
Banks operating in Egypt celebrate International Youth Day
New accounts opened free of charge, special offers made on 1-15 August
CBE reveals Egypt’s economy external position
Foreign debt reached 35.1% of GDP at end December 2018, compared to 61.4% of GDP in European coutnries, EMs, and 41.9% in Commonwealth countries