Latest in Banking Highlight
Latest in Banking
Banking experts expect economy to boom in 2018
Energy, construction, SMEs will playbiggest role in raising economic growth rates this year
Arab Investment Bank aims to boost loans portfolio to EGP 15bn by end-2018: chairperson
We eye 50% growth in financing, 30% in deposits, profits, says Seif El Nasr
Egypt to reap economic reform fruits in 2018: El-Damaty
Banks will focus on financing renewable energy, construction, communications sectors in coming period, while continuing to support SMEs
2018 is year of transition, not prosperity: Kamal
State continues to import most production components, many goods, case which may not change much in 2018
2018 to see 6% economic growth rates in 2018: El-Kosayer
Public debt is still safe and, unlikely to increase, keeping the current level of reserves is a great achievement
Industry future of state in coming period next to SMEs: Fahmy
Energy sector is most prominent sector that can contribute strongly to growth, especially after recent oil discoveries like Zohr
SMEs base for comprehensive development: Refaie
Suez Canal Bank agreed to participate in loans worth EGP 4bn for various economic sectors in 2017, says El-Refaie
Economic growth, high standard of living depend on SMEs expansion: Abdeen
Banks working to accelerate production, achieve sustainable development by focusing on funding vital sectors such as industry, agriculture, renewable energy
Banks to continue supporting government developmental plan in 2018: Fayed
We expect Egyptian economy in 2018 to witness higher growth rates reaching 4.5-5% more than prior year
Dealers expect dollar value to range from EGP 17-19.5 in 2018
Growth rate to range from 4-5%, inflation to decrease to 13-15%
Five main aspects of theto United Bank’s work strategy in 2018: chairperson
Package of new digital solutions will be launched, customers will be educated, financial inclusion campaign will be intensified, base of beneficiaries will be maximised, says El Kady
Banque Misr pumped EGP 5bn into SMEs in 6 months
Beheira, Sharqeya, Sohag governorates receive most microfinancing; Sohag, Minya, Kafr Al-Sheikh received highest small enterprise financing
NBE pumped EGP 18.6bn to finance 17,800 small projects in two years: bank VP
SMEs portfolio increased to EGP 39.8bn for 57,400 projects by end-December, says Al-Baz
NBE contributed EGP 30.6bn to syndicated loans in 2017
Bank supported by huge capital base of over EGP 93bn, providing opportunity to inject large funds individually or through participation in banking alliances, says Aboul Fotouh
Egyptian remittances score $10.4bn from July-November 2017: CBE
Egyptians’ remittances recorded about $2.2bn in November 2017, compared to $2.1bn in November 2016
CBE opens account to collect change from checks, remittances, directs them to development projects
CBE called on banks to transfer change to main account at end of each month to direct to Tahya Misr Fund
CBE warns against dealing in Bitcoin
Cryptocurrencies lack guarantee and official government support as opposed to official currencies: CBE
Local, foreign financial institutions offer to invest $1.054bn in USD T-Bills
Interest rate highest at 3.35%, lowest at 3.32%, averaging 3.346%
Banque Misr receives the Mohammed bin Rashid Award for Young Business Leaders
Bank injects EGP 2.2bn to fund 48,392 micro enterprises in 32 months
CBE offers treasury bills worth $7850m
Tender proceeds to cover previous tender on 10 January 2017 worth $888.8m
FX reserves end 2017 at record high of $37.02bn
Forex reserves increased by $333m, despite payment of $3.2bn to Afreximbank, says CBE
NBE aims to increase size of SME portfolio to EGP 100bn within 3 years
The bank offered SME loans worth about EGP 37.5bn to 55,000 customers
NBE, Agriculture Ministry cooperate to finance livestock projects
Bank injected EGP 1.2bn to fund 7,400 livestock, poultry, fishery development projects
HDB aims to open 20 new branches in 2018: El-Sebaey
Bank added 10 branches in 2017, targets 100 branches
NBE renovates 229 branches: Aboul Fotouh
Bank reopens Montazah branch after development
Banque Misr arranges funding worth EGP 81.3bn for various economic sectors
Loans up 40% in FY 2016/2017, deposits up 56%
Abdeen receives Banker of the Year Award for GCC
Mohamed Nasr Abdeen, vice chairperson of Union National Bank-Egypt, received the 2017 GCC Banker of the Year Award. Union National Bank of the UAE was awarded the Best Retail Bank of the GCC in 2017 by World Finance magazine, which specialises in the finance and banking industry in London. World Finance is one of the …
EBI organises lecture on IFRS 9 standards
A few days ago, the Egyptian Banking Institute (EBI) organised a seminar on the accounting standard IFRS 9, with a view to introduce the International Financial Reporting Standards (IFRS) and highlighting the associated challenges. Abdul Aziz Naseer, executive director of the institute, said that the organisation of this seminar comes within the framework of the …
FEB, FEI organise conference on transformation into non-monetary economy for 16 January
The Federation of Egyptian Banks (FEB) and the Federation of Egyptian Industries (FEI), in collaboration with the Centre for International Private Enterprise, will hold the second conference on the transformation into a non-monetary economy on 16 January 2018. The conference will be opened by Hisham Ezz El Arab, president of the FEB; Mohamed El Sewidi, …
Fintech in Egypt: the wheels turn slowly
It appears that businesses and individuals in Egypt need to adapt to the new technology by embracing the paradigm shift in financial activity.