Latest in Banking Highlight
Latest in Banking
Strong expectations to fix pound’s interest rate at Thursday CBE meeting
MPC to hold 8 meetings in 2018 to look into destiny of basic yield prices in CBE
Banks financed foreign trade operations worth $70.8bn from pound floatation to 14 December 2017: CBE
The total volume of foreign trade operations implemented by banks working in the local market, during the period extending from 3 November 2016 until 14 December 2017, reached $70.8bn, according to the Central Bank of Egypt (CBE). Importation operations financed by the banks since floatation up until now included basic and non-basic commodities. Production materials …
MSME finances 227,000 projects worth EGP 1.93bn in Beheira
Authority provided grants worth EGP 250m for implementation of labour-intensive infrastructure projects, community, human development projects in governorate, says Gamea
Why will CBE not allow Sawiris to establish a bank?
Majority of major banks in world started as family businesses
NBK investments in Egypt long-term, strategic: Al Sager
Success achieved by NBK since entry into Egyptian market exceeded all expectations
NBK – Egypt targets 20% total growth in 2018: CEO & managing director
NBK Group fully believes in Egyptian market, potential opportunities it offers, promising future ahead, says Hassan
NBE deposits at EGP 900bn, loans EGP 400bn up to mid-December 2017: bank VP
We aim to achieve growth rates of 15-20% by end-June 2018, our expansions in SME finance without limits
How to obtain a personal loan from Banque du Caire?
Banque du Caire offers personal loans to public and private sector employees, as well as to bank employees. The minimum monthly income required for obtaining the loan is EGP 300 for public sector employees, EGP 1,500 for private sector employees, and EGP 2,000 for bank employees. The maximum amount for a personal loan is EGP …
Private sector loans from banks amounted to EGP 1.058tn
The volume of loans obtained by the private sector from banks increased by EGP 7bn in September 2017 to reach EGP 1.058tn compared to EGP 1.051tn in August 2017, according to the CBE. The bank explained that the total credit balances of banks operating in the Egyptian market rose during September by EGP 13bn to …
Bank investments in T-bills amounted to EGP 564.3bn
The total investments initiated by banks operating in the Egyptian market amounted to EGP 564.349bn at the end of October 2017, compared to EGP 549.96bn at the end of September 2017, an increase of EGP 14.4bn, according to the CBE. According to the CBE, public sector bank investments rose to EGP 285.18bn by the end …
Overall bank balance of payments surplus estimated at EGP 4.68tn
The overall balance of payments (BoP) surplus of banks operating in the Egyptian market amounted to EGP 4.688tn at the end of September 2017, compared to EGP 4.586tn at the end of August 2017, an increase of EGP 101.9bn, according to the Central Bank of Egypt (CBE). Banks increased their capital by EGP 9.4bn in …
Foreign remittances reach $24.2bn a year since floatation
Increase among results of floatation, proof of confidence in Egyptian banks: CBE
EGP 51.9bn increase in deposits, EGP12.7bn increase in bank credit facilities during September 2017: CBE
Private sector received 61.95% of total non-governmental credit facilities in banks, industry sector at top of beneficiaries
EGP 49bn increase in loans for SMEs in 1 year: CBE deputy governor
CBE met NBG officials to identify bank strategy, no formal request yet to exit Egypt
Egypt is among important foreign markets for NBK Group
NBK celebrates 10 years in Egyptian market
Local banks, foreign financial institutions offer investments worth $1.29bn in Egyptian T-bills
Highest interest rate on investment in those bills is 3.5%, while lowest rate is 3.47% and the average is 3.495%
HDB offers doctors loans to fund clinic furnishing
The Housing and Development Bank (HDB) offers doctors the necessary funding to buy clinics, furnish them, and purchase the needed/’;[[]’[ medical equipment. The funding represents 75% of the value of the clinic or the equipment required to be purchased. Repayment of the funds to purchase medical equipment can be made over five years, and if …
CIB, AUC graduate new batch of entrepreneurs
Bank aims to support startups to develop systems, technology solutions in field of financial innovation, expanding customer base, speeding up pace of financial inclusion: Farag The Commercial International Bank (CIB) graduated the third batch of business incubators in the field of financial technology, in cooperation with the American University in Cairo (AUC). The business incubator …
Non-performing loans decline to 5.3% of total bank loans end-September 2017
The percentage of non-performing loans at banks working in the Egyptian market declined to 5.3% of the total loan portfolio by the end of September 2017, compared to 5.5% in June 2017, according to the Central Bank of Egypt (CBE). The CBE explained in a recent report about financial safety that the percentage of non-performing …
2.2 million clients received microfinance by end-September 2017
The number of clients who obtained microfinance services reached 2.2 million by the end of the third quarter of 2017, according to Shahinaz Rashad, head of the Financial Services Institute affiliated with the Egyptian Financial Supervisory Authority (EFSA). She explained that ladies acquire 70% of these funds, praising the role that the microfinance law played …
Islamic banking in Egypt worth EGP 222bn
The volume of Islamic banking in the Egyptian market reached EGP 222bn, an equivalent of 6% of total transactions of banks working in Egypt, according to Mohamed El Beltagy, head of the Egyptian Association for Islamic Funding. El Beltagy explained that the size of Islamic deposits at banks are estimated at EGP 190bn, while the …
ABE supplies its veal project EGP 45m
The Agricultural Bank of Egypt (ABE) has provided EGP 45m to about 253 clients, part of its national project to revive veal, to finance the purchasing of 3,199 cattle and feed 2,766 of them. According to Sayed Elkosayer, chairperson of the bank, total ratified approvals for the project have reached EGP 180m. He explained that …
Egyptian banks score EGP 44.75bn profits end-September: CBE
Top five banks account for 46.67% of total profits, top 10 accounts for 63.16%
$1.5bn surplus in Q1 FY 2017/2018 balance of payments: CBE
Exports increased to $5.8bn between July and September 2017, against $14.8bn imports
CBE offers $1bn worth of T-bills on Monday
Proceeds to cover earlier offering made on 13 December 2016 worth $1.1185bn
How to get a car loan from AAIB
The Arab African International Bank (AAIB) requires owning an account at the bank to obtain a car loan. Applicants will also need to provide a copy of their valid national ID card. Applicants must be 21 to 65 years old at the end of the loan period. They also must have been an employee at …
IDWBE loans portfolio up EGP 3bn in 18 months
Deposits up EGP 10bn from April 2016 to October 2017, says Fahmy
CBE approves ABE EGP 200m for veal project from SMEs portfolio
Bank to sign EGP 50m contract with MSMES Development Agency to finance women’s projects before year-end
NBE funds external operations worth $18.5bn in 13 months: bank’s vice president
Bank foreign exchange earnings $17bn from 3 November 2016 to 5 December 2017, says Aboul Fotouh
Egypt did not request extending maturity of CBE $2bn Kuwaiti deposit: senior government official
UAE agreed to extend the maturity of its $2bn deposit with CBE until July 2023