Latest in Banking Highlight
Latest in Banking
Banque Du Caire participates in new initiative to support small and micro enterprises in Upper Egypt
The bank granted over 1.5m loans to owners of micro enterprises with a total value of about EGP 11bn, says El-Zahid
CBE pumps EGP 2.5bn into United Bank’s capital
Supporting the bank’s capital is meant to support its ability to expand in various sectors and expand its role as a prelude to selling it
QNB ALAHLI gross loans increased to EGP 97.508m, up by 55% from December 2015
Net profit increased to EGP 4.203m, up by 32% y-o-y
BanqueMisr offers new personal loan with proof of income
BanqueMisr offered on Sunday a new retail banking product—a personal loan granted only to customers with proof of income. The purpose of the new product is to meet the needs of all customer segments and to provide them with special banking services. According to a statement by the bank, the loan procedure is simplified, as …
CBE to meet 8 times in 2017 to determine future of Egyptian pound’s interest rate
Direction of interest rate depends on inflation and government strategy, say analysts
United Bank calls on parliament to lift immunity off Khaled Beshr to collect debt worth EGP 32m
The United Bank requested the Egyptian House of Representatives to lift immunity off member of parliament Khaled Beshr to take legal action against him in order to collect his debt worth EGP 32.03m. The bank said in its request to the parliament that Beshr had obtained several credit facilities for several years, which resulted in …
United Bank of Egypt appoints Nevine Kashmiri as assistant managing director of funding large enterprises, SMEs
I am currently restructuring the funding department in accordance with newest international banking system, says Kashmiri
United Bank adopts strong expansion plan throughout 2017, despite bank sale discussions
We are serious in providing banking and technical support for SMEs, says Elkady
CBE prints EGP 200m worth of EGP 1, EGP 0.5 banknotes
The bank said in a statement on Thursday that it has printed EGP 100m of EGP 1 banknotes and EGP 100m of EGP 0.5 banknotes
Largest 10 banks acquired 72.11% of total deposits until September 2016: CBE
The share of the largest five banks of total deposits reaches 58.9%; government banks are at the top
HDB conducting public lottery for social housing land in January 2017
The Housing & Development Bank is currently conducting a lottery for social housing land in 10th of Ramadan City from 9-26 January 2017. The bank had previously conducted a public lottery in cooperation with the New Urban Communities Authority (NUCA) from 17-29 November on lands located in 15th of May City, Obour City, New Cairo, …
Banque du Caire to inject EGP 1bn across various economic sectors in 2017
Sectors include transportation, logistics, construction, industry, food, and commodities
HDB increases number of branches to 70
We aim to reach 100 branches by the end of 2018, Sebaey says
QNB Al-Ahli cooperates with VISA to promote electronic payments
The bank is preparing to launch mVISA service for the first time in the Egyptian market
AAIB seeks to attract more investments, contribute to development in the SCZone
The bank signed a memorandum of understanding with the General Authority for the SCZone to be present in the region and offer investors there support
Banks achieve net profits worth EGP 30.143bn in Egyptian market until September 2016: CBE
The five largest banks acquire 44.32% of total profits, 42% of total revenues
Non-performing loans reach 5.9% by the end of September 2016: CBE
The private sector acquired 70% of total loans offered by banks to clients, loans to deposits ratio recorded 44.2%
Government borrows EGP 1.121tn through bills, bonds during 2016
Ministry of Finance intends to borrow EGP 299.019bn from banks in Q1 FY2017
EGP 27.4bn increase in total credit facilities granted by banks to clients during Q1 of FY 2016/2017: CBE
The private sector accounted for 59.6% of the total of these facilities and the industrial sector tops economic sectors supported by banks
Deutsche settles another of its myriad lawsuits
Germany’s biggest lender, Deutsche Bank, has agreed to pay a fine of close to a hundred million dollars to settle a fraud case in connection with the bank’s use of a US shell company to avoid paying taxes.Preet Bharara, the US attorney for the Southern District of New York, announced Wednesday that Deutsche Bank had admitted to its actions designed to avoid taxes and agreed to pay $95 million (89.8 million euros) to the United States to account for this conduct.
CBE extends tourism sector support initiative until February 2018
The bank also decided to extend the retail loans initiative for employees of the sector until the end of June 2017
Banks offer investments worth EGP 91bn in CBE’s deposit operation on Tuesday
Banks operating in the domestic market offered investments worth EGP 91bn of surplus liquidity in local currency via deposit operations, which was deposited by the Central Bank of Egypt (CBE) on Tuesday, according to data obtained by Daily News Egypt. The CBE accepted EGP 75bn of the investments it was offered at an interest rate …
Remittances from Egyptians abroad increase by 33.2% in 1 month, amount to $1.7bn in November: CBE
Banks received $3.9373bn over three months
Balance of payments runs $1.9bn surplus during Q1 of current FY: CBE
The CBE explained in a statement on Thursday that capital and financial transactions registered net income estimated at $7.1bn compared to $1.6bn during the same period the previous year
CBE dismisses rumours of Tarek Amer’s resignation
Amer will willingly complete his four-year constitutional term
United Bank signs partnership protocol with Suez Canal Economic Zone
The bank will participate in financing major projects, and provide credit facilities for investors in the area, says Elkady
NBE, IDA to finance projects under ‘Your factory is ready’ initiative
Total SMEs portfolio in the NBE reached EGP 28.4bn and serves 51,600 projects, says Montasser
Banque Misr records EGP 5bn increase in banking portfolio during last FY
The bank spent more than EGP 40bn on salaries transferred from public and private sector companies
CBE cancels meeting with representatives of investor associations
Amer refuses attendance of legal advisor to the associations
Banque Misr offers loans worth EGP 33.2bn to several economic sectors
Loans will be granted to different sectors including maritime shipping, electricity, energy, and fertilizers