Latest in Banking Highlight
Latest in Banking
ABE aims to become largest small projects bank in Egypt: chairperson
We are racing against time to completebank’s restructuring process, prepare it to take on a bigger role in serving national economy across various fields: Elkosayer
NBE-led coalition finances nitrate project for Abu Qir Fertilizer
Abu Qir Fertilisers and Chemical Industries Holding Company’s board of directors decided to obtain funding for its nitrate project from the National Bank of Egypt, Banque Misr, and QNB. The company said in a disclosure to the Egyptian Exchange on Wednesday that the funding is worth €105m and that the project will be implemented by …
CBE reviews interest rates
Market expectations shift from cuts to maintaining
ABE injects EGP 300m into veal project over 7 months: chairperson
Bank offered loans to 2,158 customers to feed, fatten 22,400 cattle nationwide, intends to inject further EGP 200m in project soon
Remittances record $17.3bn in 8 months: CBE
Egypt receives foreign exchange inflows of about $120bn since flotation, says Amer
Our cooperation with Central Bank of Iraq focuses on driving financial inclusion, digital payments culture: Visa GM for North Africa, Levant
Visa connects more than 3.2bn accounts, 46m merchant locations in 200 countries, territories
NBE signs cooperation agreement with Ministry of Antiquities to develop archaeological sites
Areas to be developed include Pyramids of Giza, Temples of Phila, Abu Simbel in Aswan, Karnak Temple in Luxor
Strong expectations for new cut in pound interest on Thursday
MPC trimmed key interest rates by 2% since beginning of 2018 after inflation eased
Local, foreign financial institutions offer to invest $1.28bn in T-bills
CBE accepts $1.1bn, with average interest of 3.29%
Can fintech companies replace banks?
Cooperation between two financial services providers required for benefit of all, bankers say
NBE Bank of the Year, AlexBank most efficient: Business News
IDWBE was fastest growing bank
AAEC launches project to link North Africa to China’s Belt and Road
Plan aims to attract investments of $2-4tn to Egypt, North Africa, Al Obeid says
FX reserves climbed to $44.029bn end-April 2018: CBE
Foreign exchange reserves at the Central Bank of Egypt continued to rise in April 2018, reaching $44.029bn from $42.611bn at the end of March 2018, an increase of about $1.418bn. This marks the highest level of foreign exchange reserves in the history of the Central Bank of Egypt. The reserves are sufficient to cover over …
NBE attracted 58,000 new clients during Arab Financial Inclusion Day events
Only 15% of Egyptians deal with banks, says Okasha
ABE issued 139,000 Aman certificates worth EGP 163m: chairperson
We have other requests worth EGP 88m, sales mostly of EGP 500, EGP 2,500 certificates, says ElKosayer
UAB calls upon banks, Arab financial institutions to exert greater efforts to spread fintech, curb risks
Union stressed on importance of creating regulatory system that ensures safety of payments to enhance confidence of dealers with banking, financial sectors in Arab region
ABE receives 301,000 tonnes of wheat worth EGP 1.17bn
Beheira, Minya, Sharqeya governorates topped supply list of local wheat: ElKosayer
CBE launches global tender for consultancy to study Arab electronic payments system
32% of Egyptians deal with banking system, post offices, Hussein says
New banking law presented to CBE board of directors: Amer
Kuwait agrees preliminary to renew $4bn deposits to Egypt, says CBE governor
United Bank, IDA cooperate to support SMEs
Bank’s role is to grant funding, raise financial culture of investors, says Kashmiri
Banks close financial inclusion week events Monday
Large spread of banks across the country to promote their services, inclusion of new clients
ABE launches 20 mobile service vehicles in 18 governorates
Mobile vehicles enable bank employees to reach all citizens who are not used to dealing with banks in villages, hamlets across various governorates The Agricultural Bank of Egypt (ABE) has launched 20 mobile service vehicles to offer banking services across the branches of the ABE in the villages and cities of the governorates of Giza, …
AlexBank launches Youth Savings Account
We aim to prepare young people for banking transactions, develop their financial abilities, improve their communication with banking sector, says Lokman
United Bank launches forum for clients on financial inclusion
Forum is strong start to highlight real success stories, says El Kady
Egyptian banks strongly partake in Arab Financial Inclusion Week for 2nd year
Financial inclusion is a key pillar for achieving the state vision for sustainable development: Fayed
Bullish consensus on Egypt’s economic stabilization: Bank of America Merrill Lynch
A bullish consensus on the Egyptian economy was expressed at the recent IMF and World Bank annual Spring Meetings in Washington DC about the prospects for emerging markets, according to Bank of America Merrill Lynch’s Emerging Insight report issued on Monday. The report cited Egypt’s meetings as confirming the bank’s view that the macro stabilisation …
Decline in private sector’s share of bank loans to 63.2% end-2017: CBE
Banks still prefer to lend to government, abandon role in providing credit to other sectors to enhance business, investment, says Aboul Fotouh
United Bank launches UB Digital Wallet
Fintech has become main engine of growth for national economy, dissemination of financial inclusion culture, says El Kady The United Bank of Egypt (UB) launched the UB Digital Wallet, which is its latest technological solution for the Egyptian financial market, in lieu with the efforts of the state and the Central Bank of Egypt (CBE) …
ABE, Visa launch partnership for cooperation in digital payments industry
The Agricultural Bank of Egypt (ABE) and Visa Inc have entered into a strategic partnership agreement which includes, in its first phase, the training of 400 ABE employees who deal directly with customers to improve the bank’s level of products and services within the framework of achieving the principle of financial inclusion. Elsayed Elkosayer, chairperson …
Egyptian market promising, has significant potential for Crédit Agricole Group: CEO
CAE one of leading banks in group’s 50-country operations, says Brassac