Latest in Banking Highlight
Latest in Banking
Afreximbank grants NBE $300m financing facility
The African Export-Import Bank (Afreximbank) has granted a $300m financing facility to the National Bank of Egypt (NBE) to support Egypt’s industrialisation efforts. President of Afreximbank Benedict Oramah and chairperson of NBE Hisham Okasha signed the Industrialisation Support Facility agreement on 27 April on behalf of their respective institutions during a ceremony held at NBE’s …
HDB distributes prepaid cards to university students
As part of its participation in the Financial Inclusion Week, the Housing and Development Bank (HDB) is present at a number of universities and youth centres across Egypt to raise the awareness of dealing with banks. The bank will also distribute a number of “Felousy” prepaid cards to university students, next to offering fee-free products …
Fee-free bank accounts with no minimum balance for customers and SMEs for one week from Emirates NBD
To support the initiative of the Central Bank of Egypt (CBE) and the Egyptian economy, Emirates NBD Egypt actively participates in the Arab Financial Inclusion Day through a variety of offers and advantages, as Emirates NBD Egypt will open fee-free bank accounts with no minimum balance for individuals, as well as SMEs, to promote the …
United Bank deploys direct awareness groups roaming the governorates of Upper and Lower Egypt
The United Bank organised a national public awareness campaign to raise awareness regarding financial matters and financial inclusion mechanisms. Chairperson of the United Bank Ashraf Elkady said that the bank organised direct awareness groups that roam the governorates of Upper and Lower Egypt, along with advertisements in newspapers, magazines, and websites, as well as the …
EAB present at government departments, universities, civil society institutions, markets
The plan of the Egyptian Agricultural Bank (EAB) to participate in the Financial Inclusion Week included its presence in a number of gathering areas to promote the services provided by the bank and raise awareness of clients about the importance of joining the banking sector, according to El-Sayed El-Kosayer, chairperson of the bank. He explained …
AAIB develops some branches to serve special needs clients
The Arab African International Bank (AAIB) has developed some of its branches to suit special needs clients, as part of the bank’s keenness to achieve financial inclusion. The bank has developed the sidewalks and entrances to make them wheelchair accessible. It also equipped some of the branches with teller windows of different heights. Hassan Abdullah, …
Banque du Caire in malls, youth centers, universities, and clubs
On the occasion of the Financial Inclusion Week, Banque du Caire is offering a number of promotions to attract a new segment of clients. The bank provided special facilities for the owners of small businesses, in addition to opening bank accounts with no administrative fees and no required minimum balance. The bank is also offering …
Banque Misr present in 50 youth centres, mobile units in Cairo University
Banque Misr stressed that the implementation of financial inclusion is a priority for banks in Egypt in the coming period, noting that efforts of the CBE and banking sector have to translate into more effective steps to mark a leap in the Egyptian economy. The bank added that during the events of Financial Inclusion Week, …
Banks take to various parts of country during Financial Inclusion Week
Banks open free accounts with no minimum balance, issue electronic payments cards free of charge
CIB Egypt launches new Mobile Banking app
Mobiles became an essential part of our lives, and it has become imperative for financial service providers, such as CIB Egypt, to bring the bank to the customer, says Farag
NBE retail sector clients amounted to 7.1 million at end of March 2017
Retail sector deposits reach EGP 798bn, retail loans increased to EGP 41bn
Mostafa Hadhod appointed head of Egyptian Company for Agricultural and Rural Development
Company is the investment arm of the Egyptian Agricultural Bank, aims to secure fertiliser and agriculture equipment to farmers, states El-Kosayer
ABC Egypt net loan portfolio at EGP 4.2bn at end of 2016
Bank achieved net profit of EGP 152.1m, growing by 19.9% from 2015, says Tinawi
EAB forms committee to supervise its investment funds
The committee aims to improve performance of the bank’s three funds and study establishing new ones
Renaissance Capital plans to open Cairo office
The office is set to open once we receive the regulatory approval, says the CEO
SFD, Hermes Leasing sign EGP 20m contract to finance small enterprises
Secretary general of the Social Fund for Development (SFD) Niveen Gamea; Ahmed El-Kholy, CEO and managing director of EFG Hermes Leasing; and Talal Hamza, head of the finance department at Hermes Leasing, signed a contract for the development of new and existing small enterprises through a financial leasing scheme worth EGP 20m. This funding is …
Banks’ foreign trade operations worth $28bn between flotation and 10 April
Documentary credits opened for $9bn, repayment of other collection and credit documents for $19bn
Banque Misr to sign $500m loan agreement with China Development Bank
The bank has opened its representative office in Guangzhou in the framework of its expansion plan outside the Egyptian market
Industrial sector acquires 27.98% of bank loans
Government institutions are the second largest sector in terms of obtaining bank loans, followed by the services, household, and trade sectors, while agriculture came in last
EG Bank to hold financial inclusion seminar at Cairo University on Monday
The Egyptian Gulf Bank (EG Bank) will hold an educational seminar at Cairo University on Monday. The seminar will focus on raising the level of knowledge of university students regarding financial inclusion, its importance for individuals and institutions alike, and its role in economic growth and financial stability in Egypt. According to a statement issued …
Banks start activities of financial inclusion week on Thursday
Negm addresses banks to be present in remote areas, clubs, and universities, display banking products proper for this segment of traders
CBE Governor meets international financing institutions officials during IMF meetings
Tarek Amer, the Governor of the Central Bank of Egypt (CBE), had held a series of meetings in Washington and New York before the spring meetings of the International Monetary Fund (IMF) took place on Thursday. According to a report by the CBE, Amer met with representatives of the management of capital market and investment, …
QNB ALAHLI loans increased to EGP 99.617bn, deposits reached EGP 159.795m YTD
Total assets increased to EGP 195.780bn, up 3% from December 2016
MIDB injected EGP 150bn in its capital
We target to achieve a growth rate of 25% in all indicators of the bank by the end of 2017: Tantawi
Banks acquired 74 of outstanding treasury bills in January 2017
Foreigners’ investments in state debt instruments increased to EGP 79bn in first week of April 2017
Household sector accounts for 75% of deposits at banks in December
It is very normal that individuals’ share in deposits is higher than companies’, Yousef says
United Bank aims to increase real estate finance portfolio to EGP 300m
The portfolio’s volume now is EGP 110m, but contracts to fund 11 projects in New Urban Communities were signed, says Samir
AIB’s loan portfolio increased to EGP 9bn by end of 2016
The bank has achieved more than 100% growth in business volume, says Seif El Nasr
Banking sector to rise up for supporting SMEs
EGP 101bn finances granted from banks to this sector so far, says Amer
EGBank quadrupled size of deposits and tripled number of employees in two years: Assar
We target to be one of the top 10 banks in Egypt in 2021 and to inject EGP 1bn to finance micro-enterprises in the coming period, says Assar