Latest in Banking Highlight
Latest in Banking
Household sector accounts for 78.8% of total bank deposits by end of August 2018: CBE
Deposits growth rate at 18.79%, local currency deposits at 22%, foreign currencies deposits at 9.7%
ABE to offer global tender in 6 months to develop its technological structure: Chairperson
We addressed 26,000 defaults in EGP 1.5bn debts, settled 2,700 worth EGP 175m, says Elkosayer
Two years since currency floatation
Foreign exchange reserves up by $25bn, hard cash flow increased, inflation declined, external debt $92.6bn
Banque Misr’s CSR contribution amounted to EGP 700m in last FY: Chairperson
Bank aims to double amount in coming years by focusing on education, health, youth support: El-Etreby
NBE provides EGP 2bn for 18 companies working in cotton ginning, trade
Benefiting companies include eight private sector companies
Banque du Caire opens 2 news branches, bringing its network up to 221
BDC plans to expand to 25 offices in 2019, add 20-25 extensions annually in coming 3 years: Fayed
SMEs account for 24% of United Bank’s total credit portfolio: vice chairperson
Bank to offer unique funding solutions, smart digital services, to support these projects, say Abdel Hamid
HDB’s SMEs portfolio amounted to EGP 2.2bn at end June: chairperson
Bank intends to pump EGP 400m to finance SMEs: El-Sebai
Banque Misr finances cotton with EGP 1.3bn for 2018/19 season
Bank arranged 17 financing operations worth EGP 113bn, planning further loans worth EGP 20.4bn
Egypt’s average external debt per capita records $883.9 in June 2018: CBE
External debt up to $92.6bn in June 2018, $79.032bn in June 2017, an increase of $13.6bn
Banks’ investments overseas: high diversity, multiple risks, derivatives completely prohibited
CBE placed several measures to hedge, expand investments, eliminate risky asset investments: Metwally
Egyptian banks find their way towards green banking as path to sustainable development
The FEB founded sustainable development committee in 2014 to implement the vision, while adhering to the best international practices in this regard
57th ACI World Congress, 43rd ICA conference begin Friday in Cairo
400 financial market experts, senior officials from around world to attend
Banque Misr signs protocol with Finance Ministry to collect its EGP 2bn outstanding debt
Agreement stipulates specific implementation mechanisms to settle amount due to bank
Miza card to be activated in December: CBE Sub Governor
CBE considers issuing digital currency, says Hussein
Five easy ways to apply for credit cards around world
Owning credit cards immense convenience, provides superior spending power, powerful asset in emergencies
IDBE, DFC sign cooperation protocol to finance furniture manufacturers
Protocol comes in line with the CBE’s initiative to support SMEs, Fahmy said
CR2 negotiates with 2 banks in Egypt to provide e-payment services
There are three banks working with CR2 in Egypt, we aim to increase this number to eight banks by end-2019, said Soliman
SAIB’s strategy to be finalised, presented to board by end of 2018: chairperson
Programme will be presented to board to be discussed before offering it to CBE for approval
AAIB opens six new branches in Greater Cairo, governorates, aims to increase number to 100
The series of branches includes Souhag, Sukhna port, Mandara, Abbasia, Shams Club, Obour Buildings
United Lease aims to increase activities to EGP 2bn by end-2018: Maher Abu Setit
The company started operation in H2 of 2017, with 90% stake owned by the United Bank, Abu Setit said
CBE’s renewal of repurchase agreement with international banks to provide some support for FX reserves: Beltone
Company expects local currency will stabilise against dollar for rest of 2018, with possibility of slight fluctuation below EGP 18 per dollar
Egyptian banking sector showed remarkable resilience, flexibility before political, economic challenges: UAB
Financial bank indicators operating in Egyptian market confirm existence of financial safety, remarkable performance durability, despite difficult operating conditions
NPLs fall to 4.3% of total loans at end June 2018: CBE
Provisions to combat doubtful debts amounted to EGP 109.294bn in H1
QNB ALAhli accounts for 7.93% of total loans, 5.64% of deposits in Egypt
Bank’s LDR amounted to 67%, up from sector’s average of 45%
NBE ranks as first bank in Egypt for syndicated loans: Bloomberg
NBE relies on large capital base, exceeding EGP 98bn, enabling it to inject funds alone, or through banking alliances, says Riad
Credit facilities granted by banks to clients until July score EGP 1.631tn
Private Sector acquired 61% of facilities, industries in forefront: CBE
BOP marks surplus of $12.8bn in FY 2017-2018: CBE
58.6% drop in current account deficit to $6bn, down from $14.4bn in FY 2016-2017
Omayma Farahat appointed as new chairperson of AIBANK succeeding Seif Al-Nasr
Farhat previously served as head of corporate credit sector at Ahli United Bank
Bank Audi aims to increase corporate Islamic finance portfolio to EGP 1bn by end 2018
Bank currently offers 12 different Shariah-compliant services through three branches