Latest in Banking Highlight
Latest in Banking
Banks warn against fraudulent practices following Banque Misr phishing incidents
Social media reports alleged that fraudsters claiming to be Banque Misr employees called bank clients and asked them for personal information
Commercial International Bank offers Cashback credit card
Cashback credit card allows customers to receive up to EGP 500 cashback per month on various purchases
saib Bank reports $33.6m EBIT in H1 2021
Bank maintains strong growth despite COVID-19 pandemic challenges
Housing and Development Bank achieves 10.8% PBT growth to EGP 1.45bn in H1 2021
Bank continues to achieve positive growth due to continuous support of development, expansion plans: Chairperson
Abu Dhabi Commercial Bank – Egypt reports net profit rise of 83% in H1 2021
Bank continues expansion plans, emphasises brand, and finalises measures to raise capital: El Sewerky
Bahrain’s Bank ABC acquires 99.5% of BLOM Bank Egypt
Acquisition deal valued at $425m
Tanmeyah, Banque Misr partner to issue Meeza cards for microenterprises
Agreement contributes to state’s efforts to transform into cashless society
National Investment Bank refutes liquidation reports, puts restructure plan into operation
It is part of Egypt’s structural reform programme
Central Bank of Egypt sets unified definitions for active, dormant bank accounts
Banks to be allowed to close accounts in case of year-long inactivity since balance fell to zero
Central Bank of Egypt explains reasons for fixing interest rates for 6th consecutive time
Initial indicators show continued improvement in most economic sectors: Monetary Policy Committee
Egypt’s interest rates expected to remain unchanged for 6th consecutive Central Bank meeting
Inflation trends in coming months will see increase but within CBE’s new target of 7% (±2%)
Egypt’s bank deposits in local currency increase by EGP 376.1bn during H1 2021
Deposits in foreign currency reach equivalent of about EGP 650.870bn in June 2021
ADCB appoints Inès Kadri as Head of Communications, Sustainability, Customer Satisfaction
Kadri has over 20 years of banking experience, during which she has held several positions. The most recent of these was the Head of Communication and Sustainability at Crédit Agricole – Egypt. She is also a member of the Board of Trustees of Crédit Agricole Egypt Foundation for Development.
CIB submits request to increase issued capital to EGP 19.7bn
The higher figure reflects an increase of EGP 4.92bn, and compares to the current EGP 14.77bn. The request took place at the end of last week after obtaining the approval of the Central Bank of Egypt (CBE).
Tamweely injects EGP 3.6bn of funds to over 141,000 clients
Company plans to expand network to 100 branches by 2021 end
Agricultural Bank of Egypt installs 750 ATMs in rural areas
This is considered a record period compared to the challenges facing the installation and operation of ATMs, especially in villages.
Cash on delivery drops 85% as consumer trust in digital payments continues to rise: Visa
Egyptian consumers increasingly stepping away from cash, and putting trust in digital payments during COVID-19, according to 2021 Stay Secure survey Cash on delivery payments have dropped 85% during the novel coronavirus (COVID-19) pandemic, as consumer trust in digital payments continues to rise, according to Visa’s 2021 Stay Secure survey. According to the study, the …
Arab Banking Corporation offers to acquire BLOM Bank – Egypt
ABC wants to buy up to 300 million shares of BLOM Bank at EGP 22.33 per share
Egypt is vitally important for expansion in emerging markets: Citibank
Citi sees Egypt as a very important and critical country among emerging markets, Rizwan Shaikh, Head of the EMEA Emerging Markets Corporate Banking at Citi has told Daily News Egypt. Shaikh also said that, as a result, the bank is looking to invest to grow its business in the Egyptian market. He noted that …
Central Bank of Egypt directs local market to abide by sustainable financing principles
Achieving SDGs requires banks directing financing to more sustainable economic activities
Capital flows into EM keep recovering after March 2020 slump: Central Bank of Egypt
Continued rollout, development of vaccines is expected to support global economic recovery
Egypt’s Central Bank issues guiding principles for sustainable financing
Principles are important step in supporting Egypt’s development efforts, plans to achieve sustainable growth
Egypt’s inflation to hover around midpoint of target 7% in Q4 of 2022: Central Bank
Monetary Policy Committee’s decisions regarding interest rate have been appropriate, consistent with achieving target inflation of 7% (±2) on average by 2020 end
Banking consortium offers EGP 962m syndicated loan to open branches of European universities in Egypt
Banking consortium is comprised of National Bank of Egypt (EGP 462m), Egyptian Arab Land Bank (EGP 300m), and Industrial Development Bank (EGP 200m)
HSBC named Best Investment Bank in Egypt by Euromoney
HSBC has been named as the Best Investment Bank in Egypt at the 2021 Euromoney Middle East Awards for Excellence. The bank collected a total of five awards, including the Middle East’s Best Bank for Sustainable Finance and the Middle East’s Best Bank for Transaction Services. It was also named the Best Investment Bank in …
Egypt is strategic economic partner for France: Crédit Agricole Egypt MD
Credit Agricole is definitely well positioned to promote investment in Egypt, facilitate access of French investments to Egyptian market, says Jean-Pierre Trinelle
Crédit Agricole Egypt, Visa renew partnership for 5 years
New agreement will expand customer’s convenience, accelerate digital transformation
National Bank of Egypt manages over EGP 134bn worth financing deals in H1 2021
Bank allocates EGP 30bn for new mortgage financing initiative with 3% interest rate
Central Bank of Egypt regulates commercial registration, documentation at banks
Step comes in light of strengthening cooperation between banking sector, ITDA, Notary Public
Winners announced for C3 Social Impact Accelerator Program 2021 powered by HSBC
Egyptian start-up Baramoda wins top prize at regional competition