Latest in Banking Highlight
Latest in Banking
NBE joins one of largest global blockchain initiatives
In line with Egypt’s national digital transformation strategy, and in support of the Central Bank of Egypt (CBE)’s direction to encourage the financial services industry to adopt innovative financial technologies, the NBE has recently joined enterprise software firm R3’s global blockchain initiative of over 200 financial services firms, technology companies, central banks, regulators, and trade …
NBE aims to boost microfinance portfolio to EGP 4bn by 2020: deputy chairperson
Microfinance portfolio reached EGP 3.5bn end-March, says Aboul Fotouh
AAIB named best investment bank in Egypt by Global Banking and Finance Review
Bank gateway to international investments in Egypt by providing best financial, investment solutions to global investors, Abdalla says
QNB Alahli’s loans portfolio reaches EGP 111bn end-March
Bank’s LTD scored 60% in November 2017, versus 44% average across Egyptian banks
Banque Misr seeks to arrange syndicated loans worth EGP 29.7bn for major economic sectors
Bank increases its share of KIMA 2 project funding to EGP 532.415m, $52.754m
Suez Canal Bank general assembly re-elects board of directors headed by Hussein Refaei
New retail banking sector to be established to create diversity in bank’s products, broaden its client base, Refaei says
NBE arranged 48% of syndicated loans in Egypt, Africa in Q1 2018
NBE first in Egyptian, African banking markets in syndicated loans, Bloomberg says
Deposits up EGP 56.02bn, credit facilities rose EGP 22.18bn in December 2017: CBE
Private business sector received 61.4% of total non-governmental facilities, industry tops sectors
Financing labour-intensive, medium enterprises top priorities: SMEDA CEO
SMEDA injected EGP 4.1bn to finance micro, small enterprises from its establishment in April 2017 to end-January 2018, says Gamea
Egyptian government has bold vision to develop, digitise its economy: Visa CEO
Migration to digital payments improves lives of individuals, spurs economic progress, prosperity
Islamic Development Bank to invest $3bn in Egypt during 2018-2020
The Islamic Development Bank is set to pump $3bn in the period between 2018 and 2020 to support a number of developmental projects in Egypt, Minister of Investment and International Cooperation Sahar Nasr revealed. Nasr has agreed with the bank on a new strategic partnership, which will include establishing a new regional office in Egypt. …
NBE grants ASORC $100m to implement service, facility projects necessary to develop company’s plants
Yehia Aboul Fotouh, deputy chairperson of the National Bank of Egypt (NBE), and Nagy Abdel Ghaffar, chairperson of Assiut Oil Refining Company (ASORC), signed a financing contract worth $100m for the purpose of implementing service and facility projects necessary for the development of the company’s plants and the fulfilment of its expansion goals. According to …
Attijariwafa Bank signs MoU with Expolink to raise Egyptian exports to Africa
Group aims to establish joint ventures between Moroccan, Egyptian investors, explore joint investment opportunities in countries it is located in
Momentum in NUCA’s auctions to continue: Beltone Research
HDB stands as key beneficiary on continued flow of low-cost deposits
Relative stability in Egypt’s net international reserves at $42.6bn in March: Beltone
Egypt’s net international reserves continued their relatively stable status, increasing slightly by $87m to reach $42.61bn in March, up from $42.52bn a month earlier, and maintaining imports coverage at eight months worth of imports, according to a research note from Beltone Research. The note specified that such a slight increase is the result of the …
Average of 30-40 bps cut in banks’ net interest margin expected following CBE cuts: Beltone
Lengthening durations of assets while shortening those of liabilities are key defense mechanisms
Cooperation protocol between NBE, Agriculture Ministry, Ard El Kheir for livestock projects development
NBE injected EGP 1.2bn to fund 7,400 projects in livestock sector development
FX reserves record $42.611bn at end-March
Foreign currency in reserve increased to $39.018bn, up $64m from February
First Abu Dhabi Bank launches new brand in Egypt following merger of FGB, NBAD
FAB is largest bank in UAE with assets worth AED 669bn
Emirates NBD Egypt achieves EGP 1.18bn net profit at end-2017
We are working through three important strategic partnerships with Egyptian organisations to achieve the bank’s social goals in the areas of women empowerment, youth employment and support of people with special needs Emirates NBD Egypt’s business results show that the bank achieved a net profit of EGP 1.18bn in 2017 compared to EGP 925.5m in …
Beltone expects CBE to cut interest rates by 2% by end-FY 2017/2018
Institution expects inflation slowdown to reach 12.8%, in line with CBE’s target of 13% ±3% by end-2018
Mostadam Forum graduates new young bankers
Traditional concept of return on investments changed after introduction of new criteria for project financing, risk management, Abdalla says The fourth and fifth groups of young bankers graduated from Mostadam Forum, which included 68 bankers from an array of banks in Egypt who were trained to implement sustainability approaches in banking transactions and to be …
Banks begin intensive discussions to review interest rates on loans, deposits after CBE cut them
BM considering fate of 17% certificates, other savings vessels, says El-Damaty
Banque du Caire hires Temenos to develop its banking information systems
Bank investing in human, technological capabilities to provide innovative banking, says Fayed
NBE, Visa, e-finance sign partnership to push cashless society
Helwan University to become first university in Egypt with pillars of financial inclusion
BLOM Bank Egypt injects EGP 300m to raise capital to EGP 2bn
Successes achieved by bank in Egypt reflects prosperity of Egyptian economy, says Azhari
UNB-E eyes 5% market share in Egypt within 8 years: chairperson
Bank keen to contribute to major projects that strengthen Egyptian economy through co-financing, says Al Nahyan
CBE cuts interest rates 100 bps for 2nd time in 2018
The Central Bank of Egypt (CBE)’s Monetary Policy Committee (MPC) decided to cut interest rates by 100 basis points (1%), according to a statement issued by the CBE on Thursday.
BLOM Bank Egypt targets market share of 1.5-2% in 5 years: Azhari
Bank’s general assembly agrees to pump EGP 300m, boosting capital to EGP 2bn
CBE to review interest rates on Thursday
Market uncertainty over expected MPC decision, as inflation eases, interest on dollar rises globally