Latest in Banking Highlight
Latest in Banking
CBE introduces first 10-pound plastic banknote, paper version still valid
Citizens can get new plastic banknote through over 4,500 branches of Egyptian banks
NBE inaugurates NBE-Juba PLC branch in South Sudan
The bank was granted the required licenses from the Central Bank of Egypt (CBE) and the Bank of South Sudan (BSS) to take the necessary actions to maintain its presence and conduct business in South Sudan.
CBE reveals most prominent indicators of banks’ deposits and investments in 1Q 2022
Customer deposits rise to EGP 6.980 trillion by end of March, of which 80.8% are for the household sector
CBE extends exemption of some banking services from commissions until end of 2022
Exemption from commissions and fees for transfers between mobile accounts and transfers between any mobile account and any bank account
National Bank of Egypt opens first branch in South Sudan
South Sudan Vice President said that National Bank of Egypt Juba is the culmination of distinguished relations between the two countries
National Bank of Egypt to open its first branch in South Sudan on Tuesday
National Bank of Egypt’s presence in Juba achieves more cooperation, development in Africa: Vice Chairperson
Best Payment Gateways Solutions in Egypt
Egypt plans on integrating Payment Gateway Solutions with E-commerce Merchants, to help them connect with Global Suppliers, helping with cross-border transactions, with ease.
Current interest rates depend on expected inflation rates, not prevailing ones: CBE
Achieving low, stable inflation rates in medium term prerequisite for supporting purchasing power of Egyptians, and achieving high, sustainable growth rates
CIB launches Sustaining Sectors programme to help businesses grow
CIB’s “Sustaining Sectors” programme was created as part of Bank’s ongoing mission to promote Sustainable Finance in corporate sector
NBE raises stake in Afrexim Bank by $326.6m
This comes after Afrexim Bank invited shareholders to participate in increasing its issued capital by $6.5bn, of which it is currently paying 40% at a value of $2.6bn.
Visa Everywhere Initiative 2022 finalists announced for Central Europe, Middle East, and Africa
Tune in to find out who wins the CEMEA Regional Finale on Friday 17 June 2022.
ABE, Governor of Alexandria discuss investment opportunities, inaugurate the latest branches in the governorate
This cooperation would entail supporting development projects, stimulating the production climate, and opening new horizons for investment opportunities in the governorate.
Legal merger between FAB and Audi – Egypt concludes
From now on, the two banks will be treated as one legal entity under the name FABMISR
HSBC pledges EGP 1bn in loans for tech entrepreneurs
New pledge is HSBC’s third high growth SME lending proposition in 6 months
CBE to issue $540m worth treasury bills on Monday
New issuance’s proceeds will be pay off previous bid that was put forward on 8 June 2021
Suez Canal Bank achieves net profit of EGP 96m in 1Q 2022
Loan portfolio, customer facilities grow by 9%
ABE injects EGP 1bn to stimulate agricultural, livestock investment in New Valley
The bank will not hesitate to support the state’s efforts to achieve comprehensive agricultural development by providing financing programmes with large facilities: ABE Chairperson
Volume of Islamic banking in Egypt increased to EGP 434bn in March
Faisal Bank came in first place with a turnover worth EGP 137bn
New savings certificates aim to enhance bank’s long-term, fixed-return savings products: CIB
Customers will be given new options to encourage them to start their savings plan and achieve their financial goals
Egypt’s HDB records 7.8% growth, total profits of EGP 878m in 1Q 2022
Chairperson says plans for growth, development of HDB lead to rapid growth rates in various sectors
ADCB – Egypt sees sturdy jump in net profits of 68% in 1Q 2022
Bank achieves tangible progress in implementing its five-year strategy to enhance brand and increase market share, says Ihab ElSewerky
ABE Chairperson, New Valley Governor open recently developed bank branch in Kharga
ABE’s top priority is to support financial inclusion, in implementation of CBE’s directives, says Alaa Farouk
CBE explains its reasoning for raising interest rates by 2%
MPC decided that raising policy rates is necessary to contain inflationary pressures, which is consistent with achieving price stability over the medium term
CBE to discuss interest rates, EGP’s value on Thursday amid strong expectations of hike
The current interest rates are 9.25% for deposit, 10.25% for lending, and 9.75% for the credit rate, discount rate, and price of the main operation
CBE will not hesitate to take measures it deems necessary to curb inflation: CBE Governor
The governor added that negotiations with the IMF are going well
HDB wins two awards for being most efficient bank in providing mobile and internet banking services
World Business Outlook aims to highlight the outstanding achievements of financial and economic institutions around the world.
HSBC launches $1bn lending fund for female entrepreneurs in Egypt, 10 other markets
This comes alongside the introduction of the ‘HSBC Roar Initiative’, which enables female entrepreneurs to access a series of masterclasses hosted by experienced business leaders as well as a tailored networking sessions with major companies in markets where the fund operates.
Annual urban inflation increased to 13.1% in April, highest rate since May 2019
The increase in urban inflation is attributed to strong monthly dynamics in both food and non-food items
CBE joins international green financial system network within framework of implementing state’s strategy for sustainable development
This new step comes in light of the state’s strategy to achieve sustainable development and its belief in the vital role of the banking sector and the CBE in supporting the green economy and applying the best international best practices in this field.
CBE replaces state employees’ payroll slips with Meeza cards
The project helps expand the use of digital banking services and supports the state’s efforts to transform to a cashless society