Latest in Banking Highlight
Latest in Banking
Banks in Egypt finance MSMEs with over EGP 400bn during 2021
Egypt has more than 3 million MSMEs
CBE extends cash cover for foodstuffs until 15 March 2023
The CBE has extended the exclusion period twice in the past two years since it first introduced the exemptions in 2019.
CBE conducts survey to find out needs of SMEs: Deputy Governor
Funding is no longer biggest challenge facing SMEs, as they need non-financial technical support: Gamal Negm
33.47% deposit growth at HDB, registering highest rate among banks on EGX in 2021
Highest growth in corporate loans estimated at 36.7%, equity 25.10%, net income from return 16.88%
Egypt’s external debt registers $137.4bn in September 2021: CBE
Long-term debt accounts for 91.6% ($125.9bn) of total external debt
CIB issues 1st Ecological Footprint report in Africa, setting trend in sustainable finance
The report is an important milestone in the CIB’s journey to make the Egyptian economy more eco-friendly and promote the role of banks and corporate entities in taking accountability for their environmental impact and addressing climate change challenges and solutions.
CBE leads efforts to promote fintech in local banking market: Sub-Governor
This year will witness many fintech projects, including instant payment network: Ayman Hussein
Islamic banking in Egypt amounts to EGP 429bn in 2021: Eifa
Islamic deposits record about EGP 350.4bn, financing reaches EGP 328bn
HDB records 21% increase in pre-provision, tax profit to EGP 2.8bn in 2021
Bank’s business results reflect strength of its financial position, growth rates: Hassan Ghanem
Non-government bank deposits in local currency record EGP 4.457trn in January 2022: CBE
Non-government deposits in foreign currencies reach EGP 659.901bn in January 2022
saib achieves pre-provision, tax profit of $68.9m in 2021
Continuous growth of bank’s business is supported by ambitious expansion plans: Chairperson Al-Khouly
Total financial position of banks in Egyptian market approaches EGP 9trn in November 2021: CBE
Bank deposits increase to EGP 6.306trn, credit facilities up to EGP 3.066trn, of which 60.2% granted to private sector
Suez Canal Bank records 6% by end of 2021
The bank injected EGP 2bn into the initiatives of the Central Bank for Industry, Contracting, and Tourism
Keeping policy rates unchanged remains consistent with achieving the CBE’s next inflation target
Domestic economic activity is expected to record robust growth figures along the near outlook horizon
CIB introduces new segment-based pricing for deposits
New pricing structure is first-of-its-kind in Egypt
ADCB Egypt emerging strong after one-year operation with net profit increase of 45%
Robust performance driving bank to fastest growing list in Egypt
Agricultural Bank considers financing solutions for land reclamation in development areas
Bank aims to be leading development institution supporting state efforts: Chairperson Farouk
Financial sector contains repercussions of pandemic without prejudice to its main role: CBE
Sector, both banking and non-banking components, showed solidity during pandemic
Net international reserves increased to EGP 40.980bn in January 2022: CBE
The balance of special drawing rights decreased by $2.642bn in January as well, down from December’s $2.657bn.
Housing and Development Bank prioritises digital transformation: Chairperson
Bank to launch instant money transfer service, digitise other banking services this year: Hassan Ghanem
2022 – A year of challenge for capital market: CIB Egypt Chairperson
Global economic conditions affect local situation, so monetary and financial policy makers act carefully: Sherif Sami
Corporate Social Responsibility programmes in Banking sector reached EGP 4.608bn in 2021: CBE Governor’s Advisor
CSR contributes to the value creation of banking sectors and increase advancement in baking ranking.
Social responsibility of banks: sustainable, constructive and connecting: Pundits
Societal role of bank goes beyond grants, becomes hands-on approach: Abdel-Aal
Visa oriented towards providing innovative financial solutions to underserved, unbanked populations: Country Manager
Visa contributed more than $23.5m to charities around world, while Visa Foundation funded $22.7m in grants during FY 2020: Malak El Baba
Abu Dhabi Commercial Bank has ambitious plan for growth in Egypt: ElSewerky
Bank supports national projects, finances customers in all sectors
HSBC committed to supporting Egypt’s sustainable development: CEO
HSBC supports Ministry of Finance’s issuance of first sovereign green bond in region for $750m
Suez Canal Bank adopts effective CSR programmes to serve community: Chairperson
Bank targets to expand its banking, non-banking financial services, accelerate digital transformation process: Hussein Rifai
saib’s CSR strategy aims to support state efforts towards achieving comprehensive development plans in Egypt: Tarek El-Khouly
Bank prepares balanced business plan that combines geographical expansion and the promotion of electronic services
ADIB – Egypt wins 15 global awards in 2021
ADIB Egypt receives recognition for remarkable performance in Sharia compliant banking, customer service last year
Opening Standard Chartered branch in Cairo proves confidence in Egyptian economy, banking sector: Pundits
British bank completes legal, logistical procedures to obtain final licence from CBE to open its first branch in Egypt