Latest in Banking Highlight
Latest in Banking
Bank Audi Egypt seeks to strengthen its presence in Egyptian market
Bank can support its presence among largest financial institutions in Egypt, Middle East, says Bedir
Egyptian pound continues value upward trend against US dollar
US currency lost over EGP 1 since beginning of 2019, including 34 piasters in May
CBE encourages banks to invest in funds for emerging small businesses
Decision comes complementary to previous efforts by CBE to support MSMEs, says Negm
Banks’ credit facilities see EGP 206.7bn increase in last 8 months: CBE
Private enterprise sector denominates 60.8% of total facilities, with industry in lead
New Banking Law requires 25 banks, 4 foreign branches to raise capital
Banks such as IDB, ABE, ELAB, EBE do not fall under the specialised banks category, will not be exempted from EGP 5bn minimum capital: Negm
IDB posts EGP 281m in net profits end 2018
Bank’s financial position rose to EGP 24bn from EGP 19.7bn in 2017, up by EGP 4.3bn or 21.8%: Fahmy
US dollar loses over EGP 1 of its value since start of year
Expectations for US dollar to reach EGP 16.5
UNB Egypt boasts 83% increase in profits in Q1 2019
Bank aims to increase growth rates in coming period due to its optimistic outlook on Egyptian economy
Egypt’s foreign trade reaches $47.8bn in second half of 2018: CBE
Fourteen countries account for 60.62% of Egypt’s foreign trade volume, led by China
EBRD cooperates with CBE to support liquidity in Egypt’s capital markets
Bank helps with restructuring Nilex, says Fink
Banking law amendments for capital requirements could trigger profit retention, M&As: Pharos
Pharos believes that the capital increase could trigger a wave of porfit retentions and mergers and acquisitiions.
Microfinance portfolio in banks reaches EGP 6.94bn in Q1 of 2019
NGOs rank first in terms of number of beneficiaries
Banking draft law will not impose term limits on state-owned banks’ board members: source
The source explained, in a statement to the Middle East News Agency, that the law does not determine term limits for bank officials, including heads of banks and board members, pointing out that this applies to state-owned and private banks.
Pundits expect CBE to hold interest rates unchanged on Thursday
April’s inflation slowdown is temporary, may pick up again by end-May: analysts, investment banks
Egypt’s domestic debt exceeds EGP 4tn in December 2018: CBE
The CBE said in its monthly report on Tuesday that the domestic debt reached 78.2% of GDP.
It is now time for everyone to invest in Africa as main driver of global growth: Ezz Al-Arab
CIB chairperson stresses need to develop systematic frameworks to increase investment in continent
Interest rate likely to be fixed during CBE’s Thursday meeting: HC Securities
Company expects CBE to continue trend toward reducing interest rate by end of Q3 or Q4 of 2019
Meeza card, instalment services, currency rates within features of 3rd “Sally” update
Application provides full details of 161 kinds of cards issued by 33 banks in Egypt
Attijariwafa Bank-Egypt aims to attract 70 new credit customers with funds exceeding EGP 3bn end 2019
Africa and Development Club gateway for Egyptian exporters to penetrate African markets
NBK Egypt contributes about one-third of profits of group’s foreign branches: Al-Sager
Bank aims to acquire larger market share in rapidly growing retail sector in Egypt
Suez Canal Bank aims to focus on investment banking services, non-bank financial services
Bank achieved 12% increase in net profit in Q1 of 2019, rise in financial position to EGP 49.3bn: Refaey
Banking draft law to be sent to parliament for approval before end-May: source
It stipulates establishment of committee chaired by prime minister to maintain stability of state’s financial system
US dollar continues decline below EGP 17 for first time in two years: CBE
The average price of US dollar in banks reached EGP 16.99 for buying and EGP 17.09 for selling, according to the CBE
US dollar hits EGP 16.99 mark for first time since March 2017
The average dollar price on Wednesday recorded EGP 17.01 to buy and EGP 17.14 to sell.
IDB buys land plot in New Administrative Capital for its new headquarters
Bank recently opened 11 branches across Egypt
Pound appreciated 84 piasters since beginning of 2019: CBE
US currency is approaching EGP 17 against pound, as foreign exchange flows increase in Egypt
Attijariwafa Bank launches Africa Development Club in Egypt
Egypt is first destination for foreign investment in Africa, says El Kettani
NBE aims to attract more UAE investors to Egyptian market
Bank successfully concluded several transactions with numerous UAE investors for investments in financial markets, debt instruments issued by Egyptian government: Tantawy
Suez Canal Bank opens 44th branch
Chairperson inaugurates new branch in Beni Suef
EALB launches new retail banking package for first time in its history
Bank turned into real estate investment, commercial bank within short period of time: Kamal