Latest in Banking Highlight
Latest in Banking
Banque Misr manages, arranges 38 funding deals worth EGP 60.16bn in 2018
Bank ranks first among banks working in Egypt in terms of joint loans marketing, Bloomberg says
NBE manages loans, grants worth €330m to fund EPAP, bank chairperson says
Bank signed 3 new agreements to fund Semadco, Emisal, AMOC with €25m in third phase of project
NBE launches first phase of electronic service branch project
First phase of project includes 4 branches in Nasr City, Fifth settlement, Sixth of October City, Alexandria
United Bank’s mortgage portfolio scored EGP 235m: Chairperson
Bank funded housing units purchase for 1,850 clients, says El-Kady
Banque du Caire launches electronic loan repayment service, credit card payments in cooperation with Fawry
Service reduces time, effort exerted by customers, supports premium banking services: Banque du Caire CEO
NBE, BM issue first national payment card
Card targets over 20 million Egyptian citizens who do not deal with banking sector: NBE Chairperson
NBE’s syndicated loans share in Africa amounts to 9.7%: Bloomberg
Bank lead Egyptian market in joint loans in 2018
MSMEDA injects EGP 5.3bn to fund 247,000 projects in 2018
EGP 5.3bn were allocated to fund 247,000 small, micro projects, providing 395,000 jobs
Egypt’s foreign reserves down to 42.551bn in December: CBE
Egypt’s foreign currency reserves fell to $42.551bn in December, down from a peak of $44.513bn in November, the Central Bank of Egypt announced on Monday. Net foreign reserves has been on an upward path, since Egypt signed a $12bn, three-year IMF loan in November 2016, and the adoption of the country’s ambitious economic reform programme. …
CBE’s interest rates consistent with aim of attaining single digit inflation once state’s fiscal consolidation programme ends: CBE
Measures to control country’s finances expected to temporarily affect private consumption recovery rate
NBE launches phase 2 of Al Ahly Net
Launching service comes within framework of NBE strategy pursued to activate decisions, objectives of National Council for Electronic Payments, supports financial inclusion: Okasha
Foreign assets deficit continues to widen in banks
Exit of foreign capital from emerging economies trailed in October at slower pace since April 2018: CBE
Credit facilities granted by banks to their clients increased by EGP 25.3bn in October
Private business sector covered for 61% of total credit facilities, industries among top beneficiaries: CBE
EFG Hermes Leasing, HSBC team up to finance capital expansion of SMEs
Agreement supports CBE initiative to strengthen sector, raises its contribution to formal economy
MSMEs account for 75% of ABE’s loans portfolio by end October: chairperson
Bank pumped EGP 605m to 1,314 clients in CBE’s initiative, says Elkosayer
HDB profits scored EGP 1.393bn end September: chairperson
Bank’s housing projects profits increased to EGP 370.3m end of September, up by 24.7%
United Bank shifting from losses to profits, earning over EGP 1bn: chairperson
Bank injected EGP 136m to 1,800 low- and middle-income mortgage financing clients, says El-Kady
Suez Canal Bank’s financial position stands at EGP 45.3bn end-September: chairperson
Syndicates loans up by EGP 1.8n to EGP 4.8bn, as bank jointly finances 11 loans to strategic, development sectors
CBE Governor, Libyan bank delegation, discuss fortifying mutual cooperation, exchanging experiences between two sides
Both sides agree on economic issues, pay great attention to technical support, training programmes: CBE
CBE to review interest rates on Thursday as 2018 meetings conclude
Strong hopes rates to remain stable for 6th consecutive time; 16.75% for deposit;17.75% for lending; 17.25% for credit, discount
IDB grants EGP 50m to Tamweely Microfinance to re-lend to projects for low-income groups, most vulnerable
MSMEs portfolio reached EGP 3.4bn, EGP 750m in pipeline: Fahmy
MERIS confirms HDB rating at A- with stable outlook
Bank’s rating reflects relative improvement in banking sector in Egypt
CBE unlikely to extend initiative to settle bad debts
Weak turnout by defaulters, 6 months enough for those who want to settle their debts: prominent banker
ABE launches Agri Phone service with e-finance, Progress Soft
Bank aims to provide new mobile payment channels in line with technology, latest solutions: Elkosayer
Banque du Caire wired link on Tahweel network, launches mobile wallet deposit, withdraw service via ATMs
Service allows mobile phone customers to securely withdraw, deposit cash any time, supports financial inclusion: Fayed
NBE aims to open 5 new digital branches in 3 months: deputy chairperson
Bank is working to employ technological infrastructure, modern software available to provide best service for its customers: El-Baz
Banque Misr issued 6.32m cards by end of June 2018
Bank aims to be present in coming period in Milan, Seoul, Nairobi, more African countries
CBE reviews initiative to settle troubled debts: Amer
Initiative includes settlement of debts of 3,500 companies, 337,000 individuals
Banque Misr’s financial position reaches EGP 887.5bn end-June
Deposits increase by EGP 137.1bn, while loans portfolio record EGP 222.2bn
CIB establishes CVentures, Egypt’s first corporate venture capital firm primarily focused on Fintech startups
Establishment of CVentures is evidence of CIB’s profound commitment towards supporting Egyptian financial sector: Abaza