Latest in Banking Highlight
Latest in Banking
Banks injected EGP 110bn to finance SMEs within CBE’s initiative: CBE Deputy Governor
CBE secures EGP 2bn as CGC guarantee, encourages banks to finance agriculture projects, says Helal
Egyptian banking sector ranks fourth in asset terms: UAB
NBE, Banque Misr, CIB, AAIB on list of world’s largest 1,000 banks
Banque du Caire ready to go public at anytime: chairperson
Full coordination between board of directors of bank, its owner, CBE, Finance Ministry underway to determine appropriate time to float
Egypt cancels T-bonds auction for fourth consecutive week
Earlier in September, the CBE called off the auction of three and seven-year treasury bonds worth EGP 3.5bn. Additionally, the other two previous T-bond auctions, which were also for EGP 3.5bn each, had been cancelled after bankers and investors demanded high yields on the debt.
Egypt becoming much more business friendly: Blanchet
Egypt’s economic situation has continued to improve during 2018, our overall views remain positive
Banque du Caire share offering in EGX not determined yet: chairperson
Bank plans to launch mobile, internet banking services next year, says Fayed
Banks’ profits score EGP 45.843bn at end of June 2018
Top five banks account for 61.34% of profits, against 72.87% for 10 banks, says CBE
CBE establishes financial inclusion information database
We aim to boost banking services’ beneficiaries, avoid duplication, says CBE
ABE, Bashaier sign protocol to introduce clients to agricultural marketing services
Protocol will allow both parties to implement marketing packages serving agricultural community, says Gomaa
NBE, Danone Egypt sign cooperation protocol to support SMEs
Signing of this protocol comes within framework of activating bank’s strategy for MSMEs development, says Aboul Fotouh
HDB, Damietta Furniture City Company sign agreement to finance workshops specialised in furniture industry
Bank funds 70-90% of project for one to 10 years, including grace period up to 12 months, says Ghanem
Banque du Caire signs cooperation agreement with National Bank of Uzbekistan to support Egyptian exports
Bank welcomes cooperation to support expansion of Egyptian exports in foreign markets, says Fayed
Five banks grant syndicated loan of EGP 2.4bn to Oilex for establishment of industrial complex for extraction, refining, packaging of vegetable oils
Loan amounts to 61% of investment cost, financing extends over seven years, including payment and grace period
Banknote issue up to 11.41% of GDP in June: CBE
CBE issued EGP 486.726bn in June 2018, up from EGP 474.941bn in May 2018
Foreign investments in Egyptian T-bills score EGP 269.11bn at end-July 2018
Private banks boost investments in T-bills by EGP 42.3bn in July to reach EGP 321.2bn
United Bank, Afreximbank cooperate to maximise volume of Egyptian exports to Africa
Afreximbank guarantees export earnings of Egypt, protects them from risk of non-payment, United Bank provides a package of services to increase volume of foreign trade in African markets, says El-Kady
CBE alters banks’ granting of credit facilities to public business sector companies
New rules for banks dealing with companies engaged in financing instalment sales
Egyptian Arab Land Bank will take new rank in Egypt by September 2020: vice chairperson
We assumed office in October 2017, have done our best to put bank on right track, says Gadallah
Credit facilities granted by banks in FY 2017/2018 score EGP 203.2bn
Private sector acquired 62% of facilities, industries at forefront, CBE stated
IDWBE profits score EGP 244m in 2017: chairperson
Loans up to EGP 7.6bn, EGP 10bn growth in deposits in one year, says Fahmy
IFC plans to increase local currency financing in Egypt
Corporation aims to invest up to $1bn in FY 2018/19, says Labadi
Await bigger role for Suez Canal Bank in supporting Egyptian economy during coming period: chairperson
10% Growth in total financial position of Suez Canal Bank to reach EGP 44BN
Achievements of economic reform programme promising internally, externally: El-Kady
The state supported by the plan of the CBE is working to extend the system of financial inclusion to include all segments of the Egyptian society.
Long-term investment in Egypt to provide higher ROI than government debt instruments: Gadallah
Large real estate projects best option for government to bring about rapid development, solve problem of unemployment, says vice chairperson of Egyptian Arab Land Bank
Egypt’s economy growth potential considered enormous, subsequently banking sector: Abaza
Egyptian market filled with lucrative, untapped opportunities, says CEO, board member at CIB
Egyptian economy witnesses strong signs of improvement after corrective measures taken by government: Berro
Daily News Egypt sat down for an interview with Berro, whereby he stated that one of the major current strengths of the Egyptian economy is the ability to attract new FDIs and strong tourism proceeds
Cabinet approves agreement with EBRD to upgrade metro
Agreement previously signed in August to develop line 1
Hassan Abdalla appointed as first assistant to CBE governor, Elwy as CEO of AAIB
Abdalla has served as the former chairperson of the Saib Bank, chairperson of the Union Des Banques Arabes Et Francaises – UBAF in Hong Kong and chairperson of the board of trustees of Oweegypt.
NBE, China Development Bank sign $600m loan agreement
Loan to be channelled to finance working capital of NBE’s clients
FX Reserves up to $44.419bn end of August: CBE
Foreign currencies up by $167m, gold down by $23m