Latest in Banking Highlight
Latest in Banking
“Blom Egypt for Financial Investments” starts its activities in May
The paid capital of the company amounts to EGP 10.25m and the company will manage the bank’s investment funds, says Metwally
BLOM Egypt targets growth rate of 15% in all indicators by end of 2017
EGP 400m injected in bank’s capital to reach EGP 1.7bn financed by the profits, and the capital adequacy rate increased to 18.4%: Ozalp
HDB awaits CBE approval to separate real estate activity from banking business
We aim at becoming a commercial bank practicing banking business only and transferring investment activity to a company owned by the same shareholders: Sebaey
CBE keeps interest rates unchanged
In its meeting held on 30 March, the Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) decided to keep the overnight deposit rate, the overnight lending rate, and the CBE’s main operation rate unchanged at 14.75%, 15.75%, and 15.25% respectively. The discount rate was also kept unchanged at 15.25%.
United Bank obtains EGP 120m from SFD to finance SMEs
We signed six contracts with the fund so far, totalling EGP 395m, says El Kady
Arab Bank increase number of branches in Egypt to 41
The bank aims to enhance its local spread and be the best and closest choice to clients, says Elwy
QNB ALAHLI and Visa partner to launch mVisa in Egypt
Seamless and secure QR-based mobile solution to enable faster and more convenient digital commerce
United Bank launches self-inquiry through its website and ATMs
The bank is keen on offering a package of new smart technology solutions to meet customers’ needs, according to El Kady
Egypt’s banks achieved net profits of EGP 53.066bn until December: CBE
Egypt’s five largest banks acquire 42.66% of total profits achieved by banks working in the Egyptian market
Private sector acquires 66.3% of total bank loans to clients by December: CBE
Non-performing loans rate declines to 5.8% of total loans in banks, with allocations of 99.1%
NBE, Banque Misr extend working hours to collect taxes electronically
59 branches of NBE work until 5.00pm, 75 branches of Banque Misr work until 7.00pm to help financers repay required amounts
ALEXBANK’s SMEs portfolio amounts to EGP 2bn: CEO
EGX, ALEXBANK sign MoU to support and empower Egyptian SMEs
Banks increase bad debt allocations by EGP 27.2bn due to flotation
Total financial position of banks climbed to EGP 3.99tn at the end of November 2016, increasing by EGP 857.2bn from October
Egypt is one of the most powerful economies in North Africa, we are keen to expand here: UNB leaders
We are keen on taking part in funding projects that serve the Egyptian economy, in fields of energy and infrastructure, amongst others: Al Nahyan
UNB Egypt aims to achieve 30% growth in loans and deposits
We aim to acquire a stake of not less than 5% of the Egyptian banking market over the next ten years, says Abdeen
Bank Audi Egypt represents 15% of group’s size, to increase further to 30%: Fayed
Egypt enjoys a special position in Bank Audi Group, which supports Bank Audi Egypt continuously
Bank Audi Egypt settles all dollar debts resulting from currency difference after flotation
We had a few companies with debts of more than $5m, whose positions have already been setted, says Fayed
US Dollar loses 10 piastres during Thursday transactions
The US dollar exchange price index slipped against the Egyptian pound in 11 banks during Thursday tradings/transactions, at rates ranging from 5 to 15 piastres, after a significant increase pushed the exchange rate to the level of EGP 18.26 at the end of Wednesday. The dollar declined by 15 piastres in the Arab Investment Bank, …
The Pound losing ground despite rising stock prices
In November, the Egyptian administration floated the Egyptian pound to secure a loan from the International Monetary Fund (IMF)
HDB expands its branches to 7
The Housing and Development Bank (HDB) increased the number of its branches to 71 after the opening of its most recent branch in Badr City near the Egyptian Russian University. Fathy El-Sebai, chairperson of the bank, revealed earlier that the bank plans to take the number of branches to 100 by the end of 2018. …
EG Bank achieves 130% loan portfolio increase and 97% deposit increase
The bank’s total assets rise to EGP 45.16bn by the end of 2016, a 93% increase compared to 2015
Basic system for agricultural banks merger to be set up in two months: EAB head
We consult with the Minister of Agriculture and the CBE governor to complete formation of the bank’s board of directors after hiring deputies, says El-Kosayer
Fayed as CEO and managing director, Sadek as non-executive chairperson for Audi Bank Egypt
The bank reveals its business results on Monday, initial indications suggest achieving EGP 1.8bn profits
Banque Misr injected EGP 869m to finance housing of 10,309 medium and low income clients
The bank injects more than EGP 5bn to finance environment-friendly energy production projects, meets the standards of GRI as the first Egyptian government bank
Market awaits changes in bank leadership in mid April
Banks will present their recommendations to the CBE’s governor, since the law allows the latter to reject officials
United Bank aims to achieve 20% growth in financing portfolio
The bank is restructuring the corporate sector and is dividing it into specialised administrations for various sizes and types of financing activities, says Kashmiri
State has to work to increase foreign exchange resources: IDWBE chairperson
Exchange rate is set by supply and demand, increasing volatility of balance curbs, says Fahmy
NBE increased its capital by EGP 26.4bn since June 2008: chairperson
We continue to strengthen the financial position of the bank and increase its capital, says Okasha
Banks resilient in face of challenges Egypt witnesses: UAB
Egyptian banks are still operating well and achieved growth in most areas
20% increase in loans, 15% more deposits at Al Baraka Bank: Beltone
Foreign currency loans account for 25% of loans, while deposits in foreign currency represent 18% of sheer deposits