Latest in Banking Highlight
Latest in Banking
CBE, AFI co-organise working group meetings in Cairo
The Central Bank of Egypt (CBE) and the Alliance for Financial Inclusion (AFI) launched jointly a series of key working group meetings in Cairo on Monday 11 March. This is the second event co-organised by the two institutions. Deputy Governor of the CBE, Lobna Helal, and Deputy Executive Director of the AFI, Norbert Mumba inaugurated …
CBE, government welcome parliament’s approval of E-Payment Law: CBE’s deputy governor
The Central Bank of Egypt (CBE) welcomed the parliament’s approval of the E-Payment Law which will regulate non-cash payments, the Deputy Governor of CBE, Lobna Helal, said on Tuesday. She explained that one of the goals of the new law is to enable the Egyptian society to turn into a digital one. She pointed out …
Annual inflation rates increase 1.7% to reach 13.9% in February 2019: CAPMAS
Vegetables, poultry, milk, cheese, eggs push monthly inflation to 1.8% in February compared to 0.8% in
January
Banks start issuing free e-wallets on International Women’s Day, Arab Financial Inclusion Day
CBE aims to encourage more people to join official banking system, says Elkosayer
US dollar hits its lowest in two years
US currency lost 8.11 piasters last week, losing 49 piasters since January 2019
Fate of inked banknotes remains vague
Rumours of banning banknotes with handwritings on them, banks deny, CBE silent
CBE imposes sanctions on 28 currency exchange companies in 2018
Procedure came as result of violations to CBE’s regulations, conditions
Attijariwafa Bank, Global Lease sign SME support protocol
Attijariwafa Bank Egypt and Global Lease Company have signed a joint protocol to support the small and medium-sized enterprises (SMEs), through financing the capital expansions and providing financial leasing services. Under this protocol, Attijariwafa Bank will focus on regulating, financing, and collecting the agreed instalments, while Global Lease will act as the lessor and collateral …
CBE approves issuing EGP 870.3m worth ‘Aman’ certificates
NBE, Banque Misr, Banque du Caire, ABE started offering certificates in March 2018
$1.44bn increase in foreign reserves to $44.06bn end-February: CBE
The foreign exchange reserves at the CBE have increased by $1.44bn by the end of February 2019, reaching $44.06bn, compared to $42.617bn by end of January 2019. The foreign exchange reserves recorded an all-time high by the end of November 2019, when they reached $44.51bn. The CBE has not revealed the reason behind the increase …
EPG 489.138bn increase in banks’ deposits in 2018: CBE
Government’s deposits hit EGP 391.7bn, family sector deposited 66% of them
EBI implements a development plan to stay up-to-date with new world of training: Executive Director
Development process includes training programmes, methodologies, infrastructure, digital architecture, says Nossier
Egyptian Arab Land Bank signs cooperation protocol with Nile Capital Holding
Protocol to finance microenterprises, private education, urban development, contracting, health care services, renewable energy
HDB partakes in Nile Pioneers Initiative by financing of bank’s incubator for construction
Thirty business development centres established in several governorates, will increase in future to cover republic
Foreign investments in T-bills increase by $2.4bn in January
This increase followed nine-month wave of decline
ADIB-Egypt’s profits jump by 35% to EGP 850m in 2018
Bank to settle tax disputes of EGP 1bn by 2020, says ADIB-Egypt’s CEO
MSMEDA expects $200m, €107m funds to be reinjected into micro, small projects
‘We are anticipating president’s approval on several deals of $200m with World Bank, €50m with AFD, €30m with KfW, €27m with EU,’ says Gamea
Banque du Caire participates in Nile Pioneers initiative to support entrepreneurship
We participate in all important events supporting state plans for sustainable development: Fayed
Limited response from banks to CBE’s decision to cut interest in first week
Banks move interest on variable yield certificates, others cut interest on deposits, savings accounts
HDB, Civil Status Organization sign protocol over clients’ database
The Deputy Chairperson and Managing Director of the Housing and Development Bank (HDB), Hassan Ghanem, and Assistant Interior Minister for the Civil Status Sector, Mohamed Al-Aasar, signed a cooperation protocol on Saturday to allow the bank to inquire about their clients through the Civil Status Organization’s database. The protocol facilitates for the bank direct inquiring …
CBE sets new controls for mortgage finance initiative for low-income individuals
Mortgage finance will be provided for clients who meet CBE’s conditions
Egypt’s outstanding dollar, euro bonds increase to $23.2bn, €2bn respectively
Maturities of dollar bonds range between 5-30 years, euro bonds between 8-12 years
For first time, CBE instructs banks to protect clients’ rights
Instructions have been in effect since 13 February, banks were given one-year period to adjust their situations
CBE pays EGP 114.4bn of interest on Deposit Operation in FY 2017/18
Bank turns from profits of EGP 12.66bn in FY 2016/17 to losses of EGP 33.34bn in FY 2017/18
Crédit Agricole Egypt’s net profit rises by 12.4% to EGP 2.2bn in 2018
Crédit Agricole Egypt reported a net profit of EGP 2.2bn at the end of 2018 up by 12.4% year-over-year (Y-O-Y), according to the bank’s financial results released on Sunday on the year that ended in December 2018. The bank’s return on equity reached 55% in 2018, while earnings per share went up by 12.36% to …
Yields on Egypt’s T-Bills down by 0.34 – 0.83% after CBE interest-rate cut
Interest rates, accepted by finance ministry, decline on T-Bills of 91-day to 17.248 – 17.528%
International institutions acquired 30.7% of Egypt’s debts by end-June 2018
Debts to Arab countries reached $23.1bn or 24.9% of total external debts: CBE
Business community calls on CBE to more cuts in interest rates
Decision to cut interest rates by 1% is good, yet values still relatively high, say investment experts
Banks to discuss fate of deposit, lending interests this week following CBE rate cut
NBE, Banque Misr to keep interests of fixed-rate saving certificates stable, cut those of variable-rate certificates by 1%
CBE cuts interest rates by 1%
Overnight deposit rate, overnight lending rate, rate of the main operation at 15.75% 16.75%, 16.25% respectively