Latest in Banking Highlight
Latest in Banking
NBAD-Egypt represents 8% of bank’s total activities
Bank targets activating brokerage in commerce between the east and west for development
Blom Bank Egypt to open 5 new mini-branches in 2015: CEO
Bank considering participation in massive projects in Egypt, whether directly or through syndications, says Ozalp
NBAD managing $1.5bn bonds for Egyptian government: CEO
NBAD prepared five-year plan to promote its shares in Egypt, will play important role in Egyptian economy in upcoming period
Banque Du Caire grants $60m to Egyptian Electricity Holding Company
Loan is $521m in total, and will be used in launching power plants of 2015 third emergency plan
20% expected growth in 2014-2015 revenues: Banque Misr Chairman
Bank is launching lease company and 15 new branches for Islamic services, says Eletreby
NBAD to hold ‘Egypt on the Rise’ conference
The conference aims to discuss steps needed to encourage foreign direct investments in the country
ABK acquires Piraeus-Egypt for $150m
Al Ahli Bank of Kuwait acquires 98.5% of Piraeus Bank – Egypt shares
NBE’s pre-tax net profit grows 25% in 1H FY 2014/2015
The bank has pumped EGP 3.5bn into SMEs sector
Global banking is HSBC’s priority in Egypt: Blanchet
HSBC launched in April its second International Growth Fund, worth EGP 300m, to support SMEs
NBE aims for 10% growth in all bank indicators: Okasha
Deposits portfolio at $11bn for foreign currencies by the end of March
5-year plan to increase market share to 5%, targeted fund portfolio by year-end: Atef El Dib
Q1 revenues at EGP 33m and 11 new branches within 2 years after the approval of the Central Bank of Egypt
CIB bank of the year ,Union National Bank Egypt the fastest growing : Business News index
NBE has most customer satisfaction, 255 companies take part in the evaluation, Emirates NBD is third best bank
Standard & Poor’s positive outlook on Egypt reflects well on investment: Economist
Agency raised Egypt’s economic outlook from stable to positive, affirming long- and short-term foreign and local currency sovereign credit ratings at ‘B-/B’
CIB records 47% revenue increase, 38% net profit increase in Q1
Bank said growth was driven by increase in non-interest income on increased trade finance, foreign exchange volumes and capital gains from investments
CBE, EFSA cooperate for financial education programme
The proportion of Egyptians dealing with banks is 10%, says EBI executive director
Piraeus Egypt has highest retail banking portfolio growth for 2014
The slowdown rate in Piraeus Bank-Egypt’s credit portfolio has declined, according to Retail Director Iman El-Essawy. She added that a plan, strategy, and new programme for credit have been prepared, which were approved by the mother company in Greece, and new loans were also offered to citizens. El-Essawy said that the growth of the retail …
33 killed after 2 tourist buses collide in Sinai
Prosecution team has moved to the scene to find out the reason behind the accident
Foreign reserves fall $200m
International foreign currency reserves record $17.28bn in May, down from $17.48bn in April
AFDB approves $50m CIB risk participation agreement
Agreement aids in addressing critical market demand for trade finance in Africa, the bank says
World Bank watches unfolding of political situation with great concern: Bank president
World Bank has helped finance several projects in various sectors during the past year
CBE leaves key overnight rates on hold
Reuters – Egypt’s central bank kept its official interest rates on hold as expected at a monetary policy committee meeting on Thursday, as the government tries to stimulate the economy while keeping inflation in check. Egypt’s economy has been battered by three years of political instability since a popular uprising ousted autocrat Hosni Mubarak in 2011, causing tourists and …
Qatar’s Masraf Al Rayan buys Islamic Bank of Britain
Reuters – Masraf Al Rayan, Qatar’s largest sharia-compliant bank by market value, said on Thursday it had completed its acquisition of Islamic Bank of Britain (IBB). Al Rayan did not disclose the terms of the purchase. IBB was majority-owned by another Qatari lender, Qatar International Islamic Bank, which had been in discussions with Al Rayan over a sale since mid-2012. Al Rayan said in a bourse …
Egypt Pound Strengthens Slightly At Forex Auction
The central bank sold $38.4 million to banks at the auction, with a cut-off price of 6.8768 Egyptian pounds to the dollar
Banks resume working amid unrest
Banks returned to working normally starting Sunday for only three hours a day
Banks close early amid unrest
The Central Bank of Egypt ordered banks to close their branches at 12pm.
Economy to improve: NBE Chairman
The economy has the potential for growth in the coming months, says NBE chairman
Eid Al-Fitr causes boom of internal tourism
The rates of internal tourism were “good” before and during the month of Ramadan, and further improved during the days of Eid Al-Fitr vacation
NSGB workers threaten strike over ‘Qatar problem’
Employees have expressed disapproval over Qatar National Bank’s acquisition of 100% of NSGB, and are to stage a protest on Monday to denounce the agreement
Takaful summit promotes microtakaful in Egypt
Retakaful, a Sharia-compliant form of reinsurance, was also discussed
The 7th International Takaful Summit in Egypt
Egypt hosting the summit reflects confidence in the country’s economic future, said keynote speaker and minister of finance, Al-Morsi Hegazy