Latest in Banking Highlight
Latest in Banking
UBE offers integrated system for financing journalists, launches Tahya Misr investment certificates
The bank signs a cooperation protocol with the Press Syndicate to offer loans with an allowance of training, technology, and participating in the syndicate’s social activities The United Bank (UBE) signed a cooperation protocol with the Press Syndicate last week with the aim of offering an integrated financing system for journalists and media organisations. According …
Egyptian Agricultural Bank launches initiative to finance livestock wealth project
We aim to finance the purchasing of one million livestock and establish small projects within the CBE’s initative, says El Kosayer
Government launches treasury bonds and bills for EGP 105.25bn in June
Launching 16 bills for terms of 91-364 days for EGP 99bn, 8 bonds for terms of 3-10 years for EGP 6.25bn
Beltone expects HDB’s net profit to exceed EGP 800m by year end
Bank’s initial 2017 budget includes deposit growth by 40%, loans by 30%, profit by 30%
CBE’s decision to raise interest rate continues to stir controversy
The decision was great and emphasised the bank’s determination to activate its most important tools in the fight against inflation and not just abiding to the requirements of the IMF, says Abdel-Aal
Barclays Egypt’s loan portfolio increases by EGP 1.7bn in Q1 2017
The bank’s net profit after taxes reached EGP 258m at the end of March 2017, says Sharif
NBE to own 27.3% loan volume, 27.2% deposit volume of Egyptian market by end of December 2016
Financial position increased by EGP 409.7bn during the first half of fiscal year 2016/2017 to reach EGP 1.113tn
United Bank provides EGP 200m to finance small and micro enterprises: chairperson
Bank launched Intlaka programme for financing small and micro enterprises in increasing production of local components
Increase of HDB loan portfolio to EGP 10bn in late March 2017: chairperson
The bank is still awaiting the CBE’s approval to separate real estate activity from trade activity, according to El Sebaie
Cooperation protocol between CGC and Egyptian Union of Microfinance to qualify 25 companies to obtain financing from banks
Companies were chosen across the country with a special focus on Upper Egypt, says Zo El Fokkar
CBE holds hope on Banque du Caire to support microenterprises: Amer
The bank injected 1.5 million loans to project owners until the end of 2016, with a total cumulative value of EGP 11bn
Banks obliged to separate microfinance from retail loans
Trial project between civil associations and banks to benefit from digital services in obtaining financing and instalment payments, according to the CBE governor
CBE calls on banks to introduce credit-rating system to evaluate micro-financing institutions
We have been studying ways to strengthen this sector, which is one of the most important pillars of achieving financial inclusion, says Amer
1.8m people benefited from microfinance loans until the end of 2016: Samy
Volume of funding provided by these bodies increased to EGP 4.5bn, trade activity among the top beneficiaries, says EFSA chairperson
Law controlling work of microfinance companies encourages banks to finance them: Ghada Waly
The CBE’s initiative supports these bodies before international financing institutions, young people and women are the largest benefiters
EMF seeks to increase customers to 10 million at total funding of EGP 30bn within four years: chairperson
The EMF includes eight banks, three companies, 752 institutions, and a civil society organization, in addition to the Micro, Small, and Medium Enterprises Development Agency: Zulficar
Banks ignore CBE decision to raise interest, keep rates unchanged
Next increase may be on short-term vessels, interest on certificates will not be changed, say bankers
Raising interest on the pound is for the benefit of all: CBE governor
The CBE does not consider specific entities when making decisions, Amer said defending MPC’s decision
Investors believe raising interest rate is wrong, expert says it could control the economic situation
The Monetary Policy Committee (MPC) announced on Sunday raising the discount rate by 2%, reaching 17.25%. In addition, the overnight deposit rate, overnight lending rate, and the rate of the Central Bank of Egypt’s (CBE) main operation increased by 2%, reaching 16.75%, 17.75%, and 17.25%, respectively. The step of raising the interest rates was recommended …
Banks tend to maintain interest rates unchanged despite CBE’s 2% hike
Government banks offer highest return on savings in the local market and they need to study the impact of new rises on money cost
EGBANK signs $20m loan agreement to finance SMEs
The European Investment Bank is to finance the loan that will be entirely dedicated to SMEs
Pound flotation posed challenges for banks’ financial positions in 2016: Business News Index
SAIB, Audi, NBE recorded the lowest ratios of unregulated loans portfolios
Banks offering e-services have best retail banking: Business News index
Limited growth in retail banking portfolios of major banks due to the CBE’s regulations
Ambiguity surrounding CBE’s decision on interest rate in Sunday’s meeting
IMF confirms that using interest rate is the right tool to face inflation in Egypt, the market excludes the possibility of increasing the interest rate
Good performance indexes in banks by end of January: CBE
EGP 67.2bn increase in volume of deposits, EGP 52.8bn in loans
Credit Agricole not considering leaving Egyptian market
We have launched our activities in the Egyptian market 10 years ago and seek to continue and expand it, says Drion
CBE completes new Banking Law draft, sends it to FEB for review
Foreign exchange shortage is over as Egypt collected $45bn since flotation, says CBE Governor
Banque Misr negotiates with international funding institution to obtain new dollar debt: bank’s chairperson
The bank signs a loan agreement with CDB for $500m during its participation in the Silk Road Conference
Attijariwafa Bank aims to become one of Egypt’s 10 biggest banks in 7 years
Flotation does not worry us, as we expected the move but did not predict its size, El-Kettani states
ADIB opens free bank account to contribute to financial inclusion in Egypt
36 of ADIB-Egypt’s 70 branches are located outside Cairo and Alexandria