Latest in Banking Highlight
Latest in Banking
CIB-Egypt targets attracting more customers through e-services
CIB-Egypt targets attracting more customers through e-services
Banque Misr arranges EGP 62.3bn loans for major economic sectors in 2015
Bloomberg names the bank as best in promoting syndicated loans and funding projects in Africa
Emirates NBD renews partnership with Allianz Egypt for 5 years
We have ambitious plan to expand in Egypt and launch innovative products to meet clients’ needs, says de Melker
CBE restructures investing money in banks
Shrinking bank investment in investment funds, lowering maximum level of loans’ amounts can be granted for one customer, directing them toward SMEs
CBE controls bank operations by applying sticker obligations
CBE prohibits Egyptian banks from offering retail loans with monthly instalments that exceed 35% of a debtor’s net income
ADIB Egypt redistributes its network across Egypt by opening 8 new branches
Redistributing branches gives the bank a better chance to serve the Egyptian economy
CBE launches programme to fund 350,000 SMEs for EGP 200bn in 4 years
Companies with annual revenues between EGP 1m and EGP 20m will receive a declining interest rate of 5% on loans
CBE awaits first segment of World Bank loan to support foreign reserves
Foreign reserves are facing major challenges by the beginning of 2016; repaying installments of foreign debts, covering local demand for dollars
NBE arranged 17 syndicated loans valued at EGP 65bn in 2015: Deputy Chairman
Electricity sector accounted for EGP 30.8bn; 14.8bn for petroleum; 9.45bn for construction; EGP 7.8bn for transportation
GCC States approaching towards tax reforms: Deloitte
Saudi Arabia is committed to BEPS initiative and OECD action plan
CBE postpones decision regarding EGP interest rate to negotiate with coordination council
The Monetary Policy Committee (MPC) meeting took three hours Thursday and ended without reaching a decision regarding the interest rates on EGP
International foreign reserves ends in 2015 with a slight increase
CBE’s international foreign reserves increase by $23m at the end of December
11.6% increase in assets of Egyptian banking sector during first 9 months of 2015: UAB
Regulatory actions taken by CBE s capable of protecting Egyptian banking sector from risks during 2016, says report
Housing and Development Bank opens its 64th branch
The bank will begin applying the new Core Banking system and offer four new services by the beginning of 2016
Pound lost 9% of its value against dollar in 2015, retreat to contine in 2016
The dollar’s value rose from EGP 7.18 in January to EGP 7.83 at year’s close, exceeding the level of EGP 8 through 2015
NBE arranges loans for electricity sector worth EGP 39.4 in five years
The bank intends to support the national economy by funding national projects
The Role of Institutional Investors in the Egyptian Capital Market
Over the years, enforcement activity has grown and in 2014, the exchange started to publish all violations on its website and through the trading terminals.
CBE to raise interest rate by 50 bps
In its meeting held on Thursday, the Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) decided to raise the main interest rate indicator by 50 basis points (bps). This in turn boosts the overnight deposit rate, overnight lending rate, and discount rate to 9.25%, 10.25%, and 9.75% respectively. The MPC noted that …
CBE pumped $8.3bn to cover imports between 29 October and 12 December: Amer
The Central Bank of Egypt (CBE) has pumped $8.3bn between 29 October and 12 December to cover import operations and pay foreign state dues, CBE Governor Tarek Amer said. Amer explained, during a CBE conference on Thursday, that the CBE is committed to paying off the state’s hard currency dues. He noted that Egypt did …
Bank Audi Egypt reveals major features of expansion plan in Egyptian market
We seek to double the bank’s market share in the next three years, we receive full support from the mother group, says Chairman
HDB opens new branch, adopts tourism promotion initiative
Chairman of the Housing and Development Bank (HDB) Fathy El-Sebai recently inaugurated the bank’s newest branch in Mokkatam, putting the bank’s total number of branches at 63. The inauguration was part of the bank’s plan to target expanding the bank’s network to 100 branches. The bank’s geographic expansion strategy aims to reach the largest number …
Cisco to build NBE’s modern generation of secured data centres
The National Bank of Egypt (NBE) employed the international telecommunication company Cisco to build its newest generation of secured data centres, which will provide customers with unlimited services and full security through Cisco’s modern NEXUS Switches. This agreement between NBE and Cisco is in line with their ongoing cooperation in the field of communications and …
EGP 1.8bn increase in Barclays Egypt bank loans in 9 months
Clients’ loans in Barclays Egypt increased by EGP 1.8bn during the first nine months of 2015, from EGP 5.3bn in December 2014 to EGP 7.1bn in September 2015, a growth of 34%, according to Mohamed Sherif, member of the bank’s board of directors and director of the financial department. Barclays Egypt achieved an increase in …
CBE postpones decision regarding EGP interest rate to negotiate with coordination council
The Monetary Policy Committee’s (MPC) meeting took three hours Thursday and ended without reaching a decision regarding the interest rates on EGP.
Local, international institutions offer to invest $1.5bn in Egyptian treasury bills
The CBE accepted $1.1637bn of this liquidity
Monetary policy coordinating council to hold first meeting at cabinet Thursday
The council will discuss the future of interest rates on the pound and the developments of inflation rates, says senior official
Bank Audi Egypt brings $347m to the Egyptian market
Bank Audi Egypt succeeded in bringing $357m to the Egyptian market, bank Chairman and Managing Director Hatem Sadek said Sunday. This comes as part of the bank’s commitment to resolving the dollar crisis and to meet its clients’ foreign exchange requirements, Sadek told Daily News Egypt. The bank’s parent group in Lebanon granted its branch …
United Bank of Egypt receives award for money transfers
The award was presented by Regional CEO of Standard Chartered Bank Ahmad Abu Eideh, Executive Director of the office of Standard Chartered Bank Egypt Amr Abbas, and Customer Relations Manager Youssef Ali.
Banks seek to learn from Italy on SME field trip
Participants aim to become acquainted with the basics of international practice in the financial support of SMEs.
Will CBE succeed in pushing banks to increase dollar resources?
Banks made large profits; it is time to pay part of these profits’ bill and help overcome this crisis: Abdel-Aal