Latest in Tag: bank Highlight
Latest in Tag: bank
35% of women in the Middle East have no access to bank accounts: GBA
Many people see the gap between women and men in Middle East as a challenge, but I see it as an opportunity, says Vice Chairman of Mastercard
ABE aims to become largest small projects bank in Egypt: chairperson
We are racing against time to completebank’s restructuring process, prepare it to take on a bigger role in serving national economy across various fields: Elkosayer
Bank loans increase EGP 7.6bn in November
The value of bank loans provided to customers increased to EGP 1.431tn at the end of November 2017, edging up from EGP 1.424tn in October 2017. This marks an increase of EGP 7.6bn, according to the Central Bank of Egypt (CBE). In its monthly bulletin on the banking sector’s performance issued on Thursday, the CBE …
Egypt among top 5 African banking markets: McKinsey
Egypt was chosen among the top five banking markets in Africa in terms of growth and profitability, according to a study by management consulting firm McKinsey & Company. The McKinsey report said that Egypt, Angola, Nigeria, South Africa, and Morocco account for 68% of the continent’s total banking revenues. The report identified four archetypes among …
Services sector 2nd largest beneficiary of bank loans: CBE
Private sector received 61.8% of banks’ total credit facilities by end-October 2017
Non-performing loans decline to 5.3% of total bank loans end-September 2017
The percentage of non-performing loans at banks working in the Egyptian market declined to 5.3% of the total loan portfolio by the end of September 2017, compared to 5.5% in June 2017, according to the Central Bank of Egypt (CBE). The CBE explained in a recent report about financial safety that the percentage of non-performing …
Banque du Caire BoD provides account of bank performance before end of its term
El Zahid reveals the most important indicators of the bank during the period from September 2011 until the end of 2016 before leaving office
United Bank to reduce its troubled debt portfolio to less than EGP 2bn by 2017 end: chairperson
The bank seeks to increase its profits by more than 100% by the end of this year, says El Kadi
Private sector acquires 66.3% of total bank loans to clients by December: CBE
Non-performing loans rate declines to 5.8% of total loans in banks, with allocations of 99.1%
QNB named most valuable banking brand in Middle East and Africa
“QNB Group has maintained its ranking of the most valuable banking brand in the Middle East and Africa region,” according to the annual survey carried out by Brand Finance and published by The Banker magazine, an affiliate to the internationally acclaimed Financial Times newspaper. The award also placed the QNB brand among the Brand Finance …
2017 is the year to rectify the Egyptian economy, bank investment opportunities abound: Fahmy
Banks to look for alternative financing opportunities as state reduces dependence on budget deficit financing in 2017, says Fahmy
QNB Al-Ahli cooperates with VISA to promote electronic payments
The bank is preparing to launch mVISA service for the first time in the Egyptian market
Metropolitan Egypt negotiates with bank to secure financing for 3 companies
Metropolitan Egypt is negotiating with a number of banks to provide financing worth EGP 14m to three companies working in chemicals, medical devices, and contracting, according to company head Khaled Nagaty. Yasser Kamal, credit supervisor at Metropolitan Egypt, said that ProPlan Contracting needs financing of EGP 5m, in addition to letters of guarantee worth EGP …
Sawiris shuts down affiliate bank in North Korea due to US sanctions
Orascom Telecom Media and Technology Holding will shut down Orabank, its affiliate bank in North Korea, due to US sanctions on the nation, according to an announcement on Sunday. The company, owned by business tycoon Naguib Sawiris, added in a note to the Egyptian Exchange that shutting down the bank in Korea is a …
HDB graduates first batch in the SMEs financing training course
The Housing and Development Bank (HDB) and FA Group for Financial Consulting have held a graduation ceremony for the first batch of small- and medium-sized enterprises (SMEs) financing training course, which included 25 of the bank’s employees. Graduation certificates were given to the trainees in the presence of the former governor of the Central Bank …
Dollar climbs to EGP 18 at banks on Monday
The US dollar climbed to EGP 18 on Monday at banks operating in Egypt. The average rate for the dollar at most banks on Monday registered EGP 17.55 to buy and EGP 17.95 to sell. HSBC Bank was offering to sell US dollars at EGP 18. The dollar has been gaining ground against the Egyptian …
Uber to agree with private bank to finance purchase of new, used cars for drivers
We plan to open a regional support centre in Cairo, says El-Khoury
Long-awaited pound flotation ends market’s long-standing state of suffocation: bank exchange market officials
While this decision has its advantages and disadvantages, it is the only solution for ending many problems and the government should support it
Egyptian pound flotation is a historic decision: bank leaders
Raising interest was important to protect citizens’ savings and to face expected inflation, say bank leaders
SMEs need more than bank loans with low interest rates to succeed: experts
During his meeting with Minister of Industry and Trade Tarek Kabil, President Abdel Fattah Al-Sisi emphasised the importance of small- and medium-sized enterprises (SMEs) and how these could improve Egypt’s economy. The president noted that banks should provide loans with low interest rates not exceeding 5%, as the Central Bank of Egypt (CBE) initiative stipulated. …
Household sector accounts for 62.8% of total deposits at banks in July
This sector’s deposits increased by EGP 8.849bn and EGP 2.729bn in foreign currencies
Bank credit facilities increase by EGP 224.7bn over FY 2015/2016: CBE
Private sector accounts for 59.8% of the credit facilities, while industry leads sectors backed by banks
Egypt’s economic projects financed with EGP 180bn in 1 year by banks: Emirates NBD deputy managing director
The government and the CBE have made positive moves to support the economy and develop the investment environment, says El-Damati
What are the challenges facing the Egyptian economy in the eyes of dealers?
Chief financial officers and heads of treasury sectors at banks (dealers) are facing the economic crisis more than anyone else. Thanks to the nature of their work, they realise what is happening in the global economies and the challenges facing them. In Egypt particularly, dealers play an important role in employing banks’ liquidity in local …
HDB suspends cards of manipulative clients, closes their accounts: chairperson
Banks are making great efforts to solve foreign currency shortage in Egypt
Bankers weigh in on the proposal to convert government’s debt to banks into shares in national projects
Some believe it is feasible while others claim it is fruitless
Bank loans to customers increase by EGP 13.2bn in April: CBE
Private sector received 74.8% of total loans
Industrial sector acquires 28% of bank loans in March
Most loans in the banking sector worldwide are granted to the industrial sector, says Ezz El-Din Hassanein
Barclays continues to implement its expansion plan in Egypt despite bank’s sale: finance director
The plan includes five pillars, the most important of which is the expansion in lending for huge projects and multi-national companies and focusing on financing SMEs, said Sherif
Criminal case opened against Switzerland’s BSI bank over Malaysian fund
Switzerland has opened criminal proceedings against the BSI bank, linked to the ongoing case involving Malaysia’s troubled state investment fund. Singapore’s central bank has also shut down BSI’s operations.
