Latest in Banking Highlight
Latest in Banking
Keeping things as they are is impossible: CBE governor
There is no intention to float the pound for now; Amer did not discuss borrowing from IMF, say sources
Turkish central bank cuts rates after failed coup
Turkish stocks and the lira have remained under selling pressure after a failed coup shook the country on Friday, now forcing the central bank to lower interest rates for the fifth consecutive month.
CBE stabilises Egyptian pound against the US dollar at EGP 8.78
The CBE sold roughly $118.6bn to the banks through its tender.
Europeans shop for convenience as e-payments skyrocket
Europeans ‘touched to pay’ three billion times in the last 12 months, cementing contactless payments’ ‘growing popularity, says Visa
CBE denies any amendments to maximum foreign currency amount allowed to exit Egypt
The recent regulations did not include the foreign exchange, the CBE said in a statement on Monday.
Japan’s SoftBank to buy British chipmaker ARM
The Japanese cellphone carrier SoftBank is buying the chipmaker ARM, the most valuable tech company listed in London. The deal is one of the most valuable in the European tech sector to date.
Industrial sector accounts for 32.6% of credit facilities in April: CBE
The industrial sector accounted for 32.6% of the total credit facilities granted by banks in April, according to the Central Bank of Egypt (CBE). In its monthly bulletin on the performance of the banking sector, the CBE stated that the total balances of credit facilities granted by banks rose by EGP 147.4bn between July 2015 …
Did Al-Sisi reject the EGP devaluation during his last meeting with Amer?
Unofficial market and analysts increase pressure on CBE’s governor
EGP devaluation: did the market misunderstand Amer or was confusion intended?
Amer had ruled out devaluation of the Egyptian pound before exchange reserves reached $25bn
Foreign investors conclude project agreements on EGP 12-13 dollar rate
Foreign companies seeking to invest in Egypt traded based on prices that reflect their vision of the pound; these estimations are met with acceptance by local partners, say investment managers and research departments
Banque Du Caire allocates EGP 1.5bn to finance SMEs over 6 months: bank chairperson
SMEs define the future policy of the banking sector
CBE considers 4 scenarios for future of the Egyptian pound against the dollar
The CBE is awaiting the entrance of US dollar flows estimated at $5.5bn over the upcoming months in order to enhance the bank’s ability to manage the exchange rate and support the foreign exchange reserves.
Bank loans to customers increase by EGP 13.2bn in April: CBE
Private sector received 74.8% of total loans
CBE stabilises US dollar exchange rate causing confusion in market
The higher inflation rate caused the CBE to postpone another devaluation of the pound until the end of this year, says analyst
Experts forecast further devaluation of Egyptian pound: CFA Society Egypt
On 3 July, governor of the CBE Tarek Amer alluded to a further depreciation of the Egyptian pound against the US dollar.
Brexit negatively affects Egyptian remittances: UAB secretary general
Egypt had 29.8% of the total Arab remittances from Britain, says Fattouh
Will CBE devaluate the pound on Tuesday?
The market awaits the launch of the first post-Eid dollar tender to learn the CBE’s direction
January 1899 saw the 1st Egyptian paper banknote, EGP 200 bill issued in April 2007
5 January 1899 saw the issuance of the first Egyptian paper banknote, while the first EGP 200 bill was issued by the Central Bank of Egypt (CBE) on 3 April 2007. The CBE owns a museum devoted to the history of the Egyptian currency, and on its website the CBE has a page documenting the …
Printing cash done in accordance to regulations, commitment to economic, legal measures: CBE
The annual growth of banknote issuance is usually proportionate to annual GDP growth
CBE forced to issue new banknotes monthly due to low state resources, high expenditure: banking expert
The CBE has increased its issuance of banknotes since January 2011, due to annual increases of salaries, pensions, and compensations, in addition to the repayment of domestic debt’s benefits, says Hassanein
EGP 6.8bn increase in banknotes printed in March 2016: CBE
EGP 200 banknotes accounted for 52.1% of the total banknotes issued; EGP 100 banknotes registered 35.7%; EGP 50 banknotes were 8.73%, with lower rates for other denominations
Slovenia central bank confirms investigation of Governor Jazbec
Slovenia’s central bank has confirmed that Governor Bostjan Jazbec is under investigation as part of the probe into alleged irregularities at the bank in 2013. The ECB has threatened legal action.
NBE and PBDAC sign cooperation protocol to serve clients of both banks
This protocol will enable the NBE to install ATM machines at PBDAC branches in towns where the NBE currently lacks presence
Italian banks battered after ECB warns MPS about bad loans
The financial crisis is coming back to roost in Italy after warnings about Banco Monte dei Paschi di Siena’s massive amount of non-performing loans caused Italian banking shares to plumb new depths.
Opinion: The downfall of an institution
The once-proud Deutsche Bank is now threatening the global financial system. Things keep getting worse and worse, though Brexit offers a tiny glimmer of hope, writes DW’s Henrik Böhme.
$26m increase in CBE’s foreign exchange reserves in June
The value of gold included in the reserves increased to $2.602bn in June, compared to $2.513bn in May, an increase of $89m.
Balance of Payments registers $2.6bn increase in deficit over 9 months of FY 2015/16: CBE
The CBE said in a statement on its website on Sunday that the increase of the BOP deficit is ascribed to the increase in the current account deficit that registered $14.5bn between July 2015 and March 2016, versus $8.4bn year-on-year (y-o-y).
CBE to reveal its foreign exchange reserves this week
Debt repayment to Qatar and Paris Club countries is likely to impact reserves by the end of July
Banks ignore CBE’s interest rate increase
CBE will not keep current rates and may be reversed in three months, given their negative effect, says analyst
Banks begin monitoring debit card transactions abroad
Misused debit cards will be suspended immediately, says the head of one bank