Latest in Banking Highlight
Latest in Banking
ABE supports CBE’s push towards e-payments by issuing Meeza cards: ElKoseir
Maximum balance of card is EGP 1,000, maximum monthly use is EGP 50,000
USD loses over 122 piasters against Egyptian pound since start of 2019
Egypt received strong foreign exchange inflows during the recent period, which has pushed the US currency to depreciate against the pound
Seffa appointed Managing Director of Attijariwafa bank-Egypt, Sakr nominated as Chairperson
Seffa is leading figure who enjoys long history, experience within Group, appointing him ensures pursuing our strategic objectives in Egyptian market: El Kettani
EGP 399bn total corporate finance portfolio, syndicated loans at NBE end of April 2019
Bank arranged 17 syndicated loans in 2018 worth EGP 90bn, won 15 international awards in this field
IDB continues expansion plan with opening of new branch downtown Cairo
Ambitious plan, to support national economy, Egyptian industry in reaching world: Fahmy
Bank Audi has yet to apply for CBE approval to acquire NBG-Egypt: Helal
In May, Bank Audi signed the final acquisition contract of the NBG-Egypt, however sealing the deal currently depends on the approval of both the CBE and Banque Du Liban, the central bank of Lebanon
AfDB to focus on financing manufacturing sector in Egypt
The African Development Bank (AfDB) will focus on financing the manufacturing and industrialisation sectors in Egypt, AfDB Country Manager in Egypt, Malinne Blomberg, said on Monday
Tamweely Microfinance increases capital to EGP 75m
Company targets expansion to 40 branches by year-end, 60 branches by 2020, says chairperson
Net profit of Banque du Caire reaches EGP 1.218bn in Q1 of 2019
Good results always push us to continue development, says Fayed
Amer: 30-40% of Banque du Caire shares to be floated by October 2019
CBE receives 3 bids for United Bank, awaiting new offers
CBE regulates banks transactions with technical payment aggregator, facilitators
Boards of directors shall ensure banks’ plans match reliance on these companies, analyze risk associated with these services
HDB joins the list of official sponsors of African Cup of Nations Total 2019
We aim to be 1 of top 10 commercial banks in Egyptian banking market during coming period: Ghanem
Bank Audi-Egypt adds ‘Meeza’ card features on its debit, credit cards
Bank Audi- Egypt aims to support development of electronic payment system in Egypt by reducing dependency on cash, in addition to promoting financial inclusion: Bedeir
Faisal Islamic Bank of Egypt assets reach EGP 95.86bn by end of May
The bank’s total assets stood at EGP 95.86bn, up from EGP 84.44bn at the end of May 2018, rising by 13.5%.
IDB’s mortgage finance portfolio up to EGP 1bn for 10,000 clients
Bank signs cooperation protocol with MFF for allocation, sale of 488 housing units in Beheira, Borg El Arab
CIB’s Extraordinary General Assembly approves authorised capital increase to EGP 50bn
Assembly grants board of directors right to establish branches, agencies, offices in Egypt, abroad, including Sinai Peninsula
CBE selects its historic building in downtown Cairo as the headquarters of FinTech Hub
Bank is launching its FinTech Hub, begins pilot phase in June
EALB member of JoPACC directors board
The company aims to build and develop programmes and systems for electronic payment and clearing operations, as well as provide and apply information technology in the field of electronic payment to enhance financial inclusion and access to the digital economy
Total of 43 foreign, domestic investors offer to invest $970.6m in Egyptian T-Bills
CBE accepts 24 offers worth $715m with 3.85-3.88% interest
Citi invites Middle East, North Africa, Pakistan, Turkey Fintech Community
Group renews support to ‘Skills for Success: Employability Programme’ with AMIDEAST
New Era for Egypt: Ban on cryptocurrencies to be lifted
Egypt’s ban of cryptocurrencies is due to be lifted, meaning companies that have the appropriate license from the Central Bank of Egypt (CBE) will soon be able to trade in cryptocurrency without fear of breaking any religious laws.
US dollar value continues decline against EGP in banks on Monday
The US dollar lost two piasters in the Egyptian National Bank and the Suez Canal Bank, recording EGP 16.71 for buying and EGP 16.81 for sale
13 banks in Egypt score EGP 8.48bn in net profits in 1Q19
CIB ranks 1st with profits of EGP 2.64bn, QNB AlAhli follows, Faisal Islamic Bank in 3rd
AlexBank, SBC, Pride Capital partner to bring world’s biggest FinTech accelerator to Egypt
The Fintech accelerator programme is considered the first of its kind in Egypt, and will sustain 11 start-ups, both from Egypt and abroad, to accelerate the Central Bank of Egypt’s goal of making Egypt a global FinTech hub.
Crédit Agricole Egypt advances digital transformation culture, opens more innovative branches across Egypt
Bank has achieved a net profit of EGP 701.6m up 33.7% q-o-q
Bank Audi net profit score EGP 326m in Q1 2019
Bank will continue to grow as one of most important banking institutions in Egypt, Middle East: Bedeir
CDC given approval to lend up to $200m Tier 2 capital to Egyptian banks
Increasing focus on Egypt will see CDC appoint country representative
Al-Sisi appoints Fakhry Elfiky as CBE’s board member
Elfiky has a 35-year international experience in the fields of economic and financial consulting, training, scientific research, and applied studies in Egypt, Arab countries, and the United States.
AAIB finances PSA plane purchase worth $20.5m
Loan extended over 5 years, expected to be disbursed starting June
New Banking Law prohibits establishment or operation of platforms for issuing, circulating e-currencies without license
Law grants CBE’s board right to issue regulation, circulation, dealing rules with such types of currencies, money