Latest in Banking Highlight
Latest in Banking
Bank Audi-Egypt to expand loan portfolio to include SMEs, among other sectors
Bank Audi-Egypt increased its deposit holdings by 17%, and increased the value of its loans portfolio by 47% in 2015; in 2016, the bank aims for additional 20% increase
Hala Sakr becomes first female Managing Director of Barclays Egypt
According to Barclays Africa Regional Management Chief Executive Mizinga Melu, Sakr’s appointment came as a result of her extensive experience in the banking sector.
UAB recommends economic, legislative reforms in Arab countries to attract foreign investment
Participants in the forum called upon Arab banks and financing institutions to adopt new financing models for infrastructure projects, as they play a vital role in stimulating the economy.
CBE discusses ways to increase MSMEs’ funding with banks
Banks are currently preparing their infrastructure to begin implementing CBE initiative
EGP 2tn size of the Egyptian banking sector by the end of 2015: Fayed
The size of the Egyptian banking sector was EGP 2tn by the end of 2015, according to Deputy Governor of the Central Bank of Egypt (CBE) Tarek Fayed
Only 8 million of 54 million eligible citizens have bank accounts
Vice chairman of the Federation of Egyptian Banks and chairman of the National Bank of Egypt (NBE) Hisham Okasha said that only 8 million of 54 million eligible Egyptian citizens have bank accounts
CBE fixes prices of basic yield
The Monetary Policy Committee of the Central Bank of Egypt (CBE) decided Thursday evening to fix the prices of basic yield at CBE, according to its statement
Decision to propose capital increases for 2 banks on EGX is governamt’s most impotant in recent years
Chairman of the Egyptian Exchange (EGX) Mohamed Omran said the government’s and the Central Banks of Egypt’s (CBE) decision to increase capital of two banks through the stock exchange is considered one of the most important economic decisions made in Egypt during the recent years. The statement was part of Omran’s speech in the opening session of …
$3.3tn of Arab banking sector assets by end of September 2015: Barakat
Only 8% of total financing in Arab banks goes to SMEs
First portion of WB loan has not entered CBE yet: CBE Deputy Governor
Deputy Governor of the Central Bank of Egypt (CBE) Tarek Fayed asserted said the first portion of the loan agreed upon with World Bank (WB), estimated at $1bn, has not entered CBE yet
IFC provides up to $50m to NBK-Egypt
IFC’s financing will help the bank meet the foreign currency requirements of Egypt’s medium-sized enterprises
Monetary Policy Committee holds first meeting in 2016 to discuss future of basic interest rates at CBE
The MPC decided during its last meeting on 24 December 2015 to raise basic interest rates by half a percentage point, resulting in an overnight deposit rate of 9.25%, an overnight lending rate of 10.25%, and a main operation and discount rate of 9.75%.
Non-performing loans fell to 7.2% of total by end of September 2015: CBE
CBE issued its Financial Soundness Indicators report, where the loans-to-deposits ratio increased to 42%
NBK records $929.7m in net profits for 2015
The group aims at strengthening its position in Egypt and increasing growth rates in the coming period, says CEO
Banque Misr signs a $100m loan agreement with Chinese CDB
The loan is intended to strengthen the bank’s dollar resources to support it in financing strategic projects, as well as to bolster the country’s foreign exchange reserves.
EGP 29.3bn increase in bank deposits, EGP 10.8bn increase in loans in October 2015: CBE
Household sector acquires 77.6% of deposits in the local currency and 63.2% of deposits in foreign currency, private sector acquires 75.8% of loans
AAIB predicts a better outcome with new offers and services in 2016
Bank is targeting about 30% average growth on retail, says head of retail
UNB launches campaign to encourage Egyptian expatriates to transfer money to Egypt
UNB provides free money transfer service for Egyptians in UAE, numerous prizes
Fawry targets 50% growth rate in its business in Egypt during 2016
We aim to increase payment outlets to 60,000 by the end of 2016, says CEO
Egypt ripe for electronic payments due to widespread use of mobile phones: Visa Egypt GM
Visa accounts for 61.5% of total cards issued worldwide, its share in Egypt is similar, says Mahfouz
72m credit facilities registered in I-Score database as of October 2015
140,500 SMEs work with banks and banking sector should support these companies more
NCR aims to boost Egypt business to EGP 1bn over next 3 years
Company accounts for about 90% of ATMs in Egypt, says Africa Managing Director
Retail banking accounts for 24% of Bank Audi Egypt’s total loans portfolio
EGP 3.8bn in individual loans from bank throughout September 2015, with an aim to increase this figure by 30% this year, says head of Retail Banking
United Bank aims to expand SME financing in 2016
Bank is reconsidering investment policies and will open 12 new branches to focus on developing the Suez Canal area, says Abdel Hamid
HDB aims to inject EGP 500m in retail loans over 2016
Retail loans constitute 58% of the total loans portfolio in the bank, says Assistant Managing Director
CIB-Egypt launches innovative digital products, aims to attract more new customers during 2016
CIB puts simple conditions on opening accounts for youth to attract them to the banking sector
Bank’s proposals published to break deadlock of CBE’s retail banking regulations
Banks request CBE not to impose these regulations on all customers and to divide them in categories based on income
Banking sector witnesses major shift in methods of providing services
Greater reliance on technology alongside declining role of traditional branches
Banque Misr begins activating CBE initiative to finance SMEs with 5% yield
This springs from the bank’s commitment to promoting economic development and contributing to the development of society by fighting unemployment, increasing the gross domestic product (GDP), and achieving sustainable development.
QNB-Alahli loan portfolio augmented to EGP 61.5bnin 2015
The bank acquired 7.82% of the total loans provided by the Egyptian banking system, and 5.68% of total deposits