Latest in Banking Highlight
Latest in Banking
IDB signs cooperation protocol with Alexandria governorate, MFF to fund social housing units
Agreement to fund 1,138 residential units within CBE initiative
CBE to review interest rates today in first 2019 meeting
Higher inflation in January shifts market expectations of interest stabilisation in this meeting
Foreign banks cut investments in government debt instruments by over EGP 13bn in December 2018
Banks’ assets of T-Bills reach EGP 725.92bn, topping list of debt holders, says CBE
HDB opens 4 new branches, bringing its network to 87 branches
Opening new branches comes to activate bank’s expansion policy in line with financial inclusion strategy adopted by CBE: Ghanem
Attijariwafa Bank Egypt seeks to support national contracting companies
Bank signs MoU with EFCBC, AFCCA to promote contracting industry in Africa
Egypt’s bank deposits up by 15.3% end-November 2018: CBE
Deposits in EGP increase by 16.9%, foreign currencies deposits grow by 9.4%
CBE to cut interest rate in March: Deutsche Bank
The Central Bank of Egypt (CBE) will cut interest rates next March, Deutsche Bank said in a research note. The bank also forecasts that the CBE is inclined to cut interest rates by 100 basis points next March, Enterprise reported. Deutsche Bank also expects that the CBE will keep interest rates unchanged in the first …
When will agricultural sector receive appropriate share of funds from banks?
Government received 28.105% of loans, industry 24.627%, services 25.957%, retail 17.286%, trade 7.627%
NBE studies financial needs of East Port Said Industrial Zone
Delegation from bank visits area to discuss project’s required banking services, factories to be established
Remittances of Egyptian expats reach $23.3bn in 11M18: CBE
Increase of 5.7% in remittances compared to same period in 2017
Price of US dollar against pound nearly stable on Tuesday after two-day decline
US currency recovers less than half piaster of 30 piasters it lost on Sunday, Monday
US dollar continues to fall against pound, losing 7 piasters
Market watching exchange trade trend, amid expectations of further appreciation of pound
Outstanding balances of T-bonds fell by EGP 10.4bn by end December 2018: Finance Ministry
Bonds due between 25 February 2019 – 6 November 2028
Dollar value falls by over EGP 0.22, biggest decline in 9 months
American currency supply increases in interbank market amid resumption of foreign investment in government debt instruments
“We work with clients to boost digital commerce in 2019”: Visa GM in North Africa
Visa will exert all efforts to make Cup of African Nations memorable for football fans in Egypt
Intertwined factors will set fate of interest rates, exchange rate, FX reserves, inflation in 2019: Analysts, bankers
Inflation will be at 10%-14%, some analysis points to 17.8%
Banks move toward digitisation, fintech
NBE launches first e-service branch; Banque du Caire to introduce first smart branch
I-Score launches inquiry product through internet in H1of 2019
Database of I-score now includes 15.5 million clients and 300,000 SMEs
Six important targets for ABE to achieve in 2019: Chairperson
‘We aim to increase bank’s role in microfinance, financial inclusion, expand e-payments’: Elkosayer
NBE eyes 15%-20% growth in its various activities during 2019: Vice Chairperson
Industry bank’s top priority due to its positive impacts on economy overall: Aboul Fotouh
UNB-E aims to achieve 40% growth rate in 2019: Vice Chairperson
Bank has ambitious plans to expand in SMEs to reach various social segments
IDB aims to close deferred losses file completely during H1 2019: Chairperson
We need cultural reform plan to develop people’s awareness that to thrive we need to increase production
Banque du Caire to expand funds in all economic sectors to assist in economic development: Chairperson
‘We achieved 80% growth rate in financing SMEs, 95% in micro funding, 60% in financing large companies in 2018’: Fayed
2019 is year of challenges, opportunities for banks
There are many challenges, pressures on banks’ budgets, profits in upcoming period
Ridding NPLs is dream of Suez Canal Bank chairperson in 2019
‘We managed to settle EGP 1.5bn of debts in last 18 months’: Refaey
Egypt paid $1.36bn of international bond balances in December 2018
Ministry of Finance reduced volume of outstanding balances of international bonds to $19.21bn end-2018
ABE general assembly adopts bank’s articles of association
Assembly decision last measure to complete implementation of Law 84 for merger of Upper, Lower Egypt banks into main bank: Elkosayer
17.4% increase in total bank deposits balance in 2017/18: CAPMAS
Total deposits balance increased in 2017/18 to reach EGP 3553.6bn, with an increase of 17.4% with the household and private business sectors having the greatest impact on high deposits. The Central Agency for Public Mobilisation and Statistics (CAPMAS) has issued the annual statistical bulletin for deposits and credit. It included information on the evolution of …
All banks operating in Egyptian market invited to adopt principles of responsible banking
Egyptian banking sector is strong, capable of achieving Egypt’s leadership in sustainable development in Middle East, Africa
Micro finance portfolio at Banque du Caire registers EGP 4.5bn at end of December: Chairperson
Bank launches community training, employment project for youth at beginning of 2019