Banking

The latest banking stories from Egypt and across the globe, by the Daily News Egypt banking team, including global insight and commentary on the top issues concerning this sector.
Latest Banking News

Al-Sharif Group, NBE sign EGP 978.2m financing contract for Shepherd Hotel renovation

Renovation and upgrade of Cairo’s renowned hotel is expected to take 42…

Hossam Mounir Hossam Mounir

CBE amends provisions of tourism initiative guaranteed by Finance Ministry

New amendment stipulates that initiative would end after exhausting amount allocated or…

Hossam Mounir Hossam Mounir

saib Bank sees net profits grow 84% to $20.4m in 2020

Increase in profits was driven by high net income from return, net…

Hossam Mounir Hossam Mounir

Central Bank of Egypt reveals market performance indicators in September 2020

Customer deposits break EGP 5trn mark for first time in local market

Hossam Mounir Hossam Mounir

HSBC launches its first cashback credit card in Egypt

Product is tailored to evolving needs of its Egyptian cardholders: Visa Country…

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Mashreq Bank – Egypt launches ‘Turbo Loan’ for businesspeople, self-employed

New product ensures quick credit approvals within 48 hours, with credit limit…

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Housing and Development Bank records 96% growth in retail loans in 2020

Bank also reports 380% and 20% increase in auto loans and customer…

Hossam Mounir Hossam Mounir

ABE makes notable contribution to sector revival, countryside development: Chairperson

Bank sees huge increase in loan portfolio to EGP 44.5bn in 2020,…

Hossam Mounir Hossam Mounir

Banque Misr submits tender offer to acquire 90% stake in CI Capital

News of Banque Misr’s intention to acquire further shares in CI Capital…

Alyaa Stohy Alyaa Stohy

CBE offers 1-year T-bills bid worth $980m on Monday

Proceeds of bid are used to pay for value of previous bid…

Hossam Mounir Hossam Mounir