Latest in Banking Highlight
Latest in Banking
National Bank of Greece-Egypt leaves market after 100 years
Assets sold to Bank Audi worth €110m including loans, deposits, securities,17 branches with 250 employees
IDB’s net profits reach EGP 136m in M4 of 2019
Bank allocates EGP 500m to develop its technological infrastructure for modern banking services
CBE governor, communications minister discuss expanding banking services in villages
Amer witnesses signing cooperation protocol to train workers of banking sector in fields of information security, data analysis, financial technology, AI
Egypt’s external debt rises to $96.6bn by end of December: CBE
Egypt’s external debt rose to $96.6bn by the end of December 2018, compared to $82.88bn by the end of December 2017, an increase of $13.7bn, according to Central Bank of Egypt (CBE) on Wednesday. The CBE added that long-term external debt recorded $86.3bn by the end of December 2018, an increase of $1.4bn from December …
Bedeir confirmed success of negotiations to acquire Egyptian banking operations, branches of the National Bank of Greece in Egypt
Final approval by CBE is condition for transaction success
CIB profits reach EGP 2.64bn in Q1 of 2019
Total bank assets increase to EGP 351.68bn until end-March
IDB allocates EGP 500m to develop bank’s technological infrastructure
We aim to increase the branches to 50 by 2023 up from 18 currently, says Fahmy
Al-Sharqawi represents Misr Insurance Company at SAIB Bank’s board of directors
The Central Bank of Egypt (CBE) has approved the appointment of Ashraf Al-Sharkawi as a member of the SAIB Bank’s board of directors. The bank said in a statement to the Egyptian Exchange (EGX) on Thursday that Al-Sharqawi represents Misr Insurance Company in the bank’s board of directors. According to the bank’s statement published on …
Hussein Elgretly appointed as non-executive member of Suez Canal Bank’s board of directors
The Central Bank of Egypt (CBE) has approved the appointment of Hussein Elgretly as a non-executive member of the board of directors of the Suez Canal Bank, representing the Arab International Bank (AIB). The Suez Canal Bank’s board of directors currently includes Hussein Refaey as chairperson and managing director, and Omar Al Sagheer as vice …
Egyptian banking sector ranks 4th in terms of assets in Arab region: UAB
NBE ranked eighth among largest Arab banks with assets worth $75.6bn
Foreign currency deposits up $1.3bn in 1Q 2019 to $42.81bn
Local currency deposits up by EGP 88.1bn to EGP 2.531tn at end of March 2019
Five banks start issuing prepaid cards to pay government dues electronically
NBE, Banque Misr, Banque du Caire, CIB, ABE issued these cards free of charge for six months
Bank Audi signs final agreement for acquisition of NBG Egypt
Deal depends on approval of both CBE, Banque Du Liban
Tuesday was last day to repay first tranche of AIBank capital increase
First tranche estimated at EGP 500m, second at EGP 300m, repaid before March 2020
US investment fund to buy United Bank of Egypt in 3 months, CBE to maintain stake: Amer
The United Bank of Egypt will be sold to a major US investment fund within three months, the Central Bank of Egypt’s (CBE) Governor Tarek Amer revealed on Monday. Amer told Daily News Egypt that the CBE will retain a stake in the bank, without revealing the size of this stake. The CBE owns 99.9% …
Egypt’s banking customer base “weak”, it’s not good timing for cryptocurrencies: CIB
Mohamed Farag, head of International Transactions and Digital Banking at the Commercial International Bank (CIB), described Egypt’s banking customer base as “weak”, with only 14 million customers. He explained that the country should have at least 60 million banking customers, and this low current figure is related to the banking service costs, especially in rural …
EGP 1.852tn balance of local T-Bills, T-Bonds by end-March
EGP 1.158tn balance of T-Bills, EGP 694.4166bn T-Bonds, international bonds by $23.21bn and $4bn: Finance Ministry
CIB-Egypt establishes representative office in Ethiopia
We are happy about regional presence of bank: Ezz El Arab
President instructs enhancement of MSMEDA activities
Gamea reviews agency’s most prominent future trends to collect more funding, draft new law for development of SMEs, microenterprises
NBE extends work hours to 6:00pm in 64 branches to receive tax dues
All bank branches will provide e-tax collection services during official working hours
Is Egypt ready for Electronic Payments Law as it comes into force?
All bodies subject to this law shall comply with its provisions within six months from imposing its regulations
US dollar loses 5 piasters against Egyptian pound on Wednesday
The US dollar lost about five piasters from its value against the Egyptian pound on Wednesday, averaging EGP 17.21 for buying and EGP 17.31 for selling, down from EGP 17.26 for buying and EGP 17.36 for selling on Tuesday. The official US dollar price in the Central Bank of Egypt lost between 3-4 piasters, reaching …
Bank Audi plans to open nine new branches in Egypt
Bank Audi plans to expand its footprint in Egypt in 2019. As part of Audi’s nationwide branch expansion plan, nine new branches will be inaugurated in strategic locations mostly outside Greater Cairo to cover more governorates and to reach more diversified segments of customers. Driven by uncompromising mission to offer the best banking services and …
CBE extends its initiative to support defaulters at ABE until June
Troubled debts up to EGP 4bn to be settled over nine months, including EGP 929m for 11,404 clients in CBE, says El Kosayer
QNB Alahli achieves strong growth in net profits despite high operational expenses
Bank maintains deposit portfolio of non-interest-bearing deposits, variable-rate deposits
Attijariwafa Bank Egypt implements $1.7bn worth trade operations in 2018
‘We aim to increase these operations by 50% this year in line with state’s trend to increase exports,’ says Sherif
Capital flows will be linked to three factors: CBE
January 2019 saw return of capital to EM since exodus in February 2018
Crédit Agricole Egypt inaugurates first cashless branch
Bank follows its strategy toward supporting digital transformation
Credit Agricole Egypt prepares to comply with new banking law, increase capital to EGP 5bn: Managing Director
The parent group supports bank’s unity in Egypt due to importance of Egyptian market, says Venas
Basic interest rates, future outlook of inflation consistent with our goals: CBE
Egypt’s real GDP growth softened to 5.3% Q3 2018, unemployment rate inched up to 10.0%