Latest in Tag: Banking Highlight
Latest in Tag: Banking
Only 7% of Egyptians have bank accounts: PayFort
Around 20% of Egyptians perform their financial transactions electronically through credit cards
AAIB expands ATM service in Egypt
Expansion brings bank’s total number of ATMs to 286 across the country
Citigroup to exit consumer businesses in Egypt
International finance company will, however, keep institutional client business
EBRD invests $713m in 15 projects in Egypt: Philip ter Woort
Bank meeting with consultancy firm to consider supporting Suez Canal Corridor projects, bank’s Egypt Director
Banque du Caire expects 25% net profit growth in 2014: CEO
Bank provides loans worth EGP 1bn to microenterprises, says Mounir El-Zahed
Egyptian banks show ‘impressive growth’ but fall short in Tier 1 capital: The Banker’s report
Tier 1 capital, a core measure of a bank’s financial strength, of National Bank of Egypt and CIB fell to reach the 404th and the 535th position respectively
Egypt fails to make the cut in top 20 Arab Companies list: Forbes Middle East
Country was fourth largest contributor to Top 500 companies in the Arab World’s list, Forbes Middle East indicated
National Bank of Egypt raises retail banking portfolio to EGP 35bn: Head of sector
Bank aims to raise its retail banking portfolio in FY 2014/2015 as part of policy to increase retail customers to 5 million over next five years
AFDB approves $50m CIB risk participation agreement
Agreement aids in addressing critical market demand for trade finance in Africa, the bank says
Egypt’s Pioneers Holding 2013 profit rises 37%
Reuters – Egyptian investment firm Pioneers Holding posted a 37% increase in net profits for last year, it said in a bourse statement on Wednesday. Pioneers made EGP 358m ($51m) in 2013 compared with EGP 260.5m in the previous year, it said. The firm, which specialises in brokerage services, said earlier this year it planned …
Saudi Arabia’s Algosaibi calls may creditor meeting: bankers
Reuters – Saudi Arabian conglomerate Ahmad Hamad Algosaibi& Brothers has called a meeting of creditor banks in Dubai on 7 May to discuss a proposed settlement of billions of dollars of unpaid debt, commercial bankers said on Monday. The 2009 collapse of Algosaibi’s Bahrain unit, The International Banking Corp, and Awal Bank, owned by Maan …
Moody’s says Egypt banking sector outlook still negative
Moody’s cited “banks’ high and increasing exposure to Caa1-rated Egyptian government debt”, which ties the system’s solvency to sovereign default risk.
Islamic banking headway in North African banks still slow: Standard and Poor’s
S&P value total Islamic banking assets in Egypt at around $11.6bn
Total non-CBE banking sector deposits reach EGP 1.26tn: CBE
The report added that total non-government deposits rose during November to reach around EGP 1.115tn, compared to EGP 1.09tn in the previous month.
Middle East investment banking fees up 20% in 2013
Reuters – Investment banking fees in the Middle East grew 20% last year, data compiled by Thomson Reuters showed, as capital markets activity continued to recover gradually from the global financial crisis. Total fees rose to $722m in 2013, the highest since 2010, from $603m in 2012 – though they were still only about half …
Soaring Compliance Costs Clip Wings of Mideast, African Banks
Rectifying these mistakes costs banks and their customers both time and money and highlights the rapidly increasing compliance costs which lenders in the Middle East and Africa must deal with.
United Bank inaugurates first Islamic banking library in Egypt
The library covers banking history in Egypt from the early 20th until present day, also providing context of Egyptian history in general.
Egypt’s Business Directory names the top five local banks
CIB tops the list as the largest bank in Egypt followed by NSGB, the fastest growing bank in the country
The United Bank Launches ATM Cash Transfer Service
This service is provided to bank clients and non-clients alike, at the 200 ATMs dispersed throughout the country, which operate 24 hours a day, 7 days a week.
Deposit withdrawals, strict procedures to protect banking sector: Bank Employees Union
Business is proceeding as normal within banks, he said, adding that strict security measures had been taken at bank entrances and exits, in order to prevent acts of theft and robbery from taking place at various branches.
A big question mark on the Islamic finance industry
By Muhammad Zubair Mughal Apparently, it is a matter of pleasure that global volume of Islamic finance industry has crossed $1.3tn approximately, which is, definitely, providing the best and compatible sources of finance with interest free modes. According to a careful estimate, there are more than 2000 Islamic Financial Institutions offering Islamic Banking, Islamic Insurance …
‘Tamarod’ in Banque Misr
Bank employees demonstrating to dismiss chairman
Banking and Insurance Special: E-Finance to partner with banks
Blom Bank Egypt, the Arab Bank, NSGB and CIB among those negotiating with the electronic payment system company
Banking and insurance special: Takaful CEO speaks about investment challenges
Abdel Shakour: The scarcity of investment channels is the biggest challenge in the insurance market
Banking and Insurance Special: Banks to increase car loans portfolio
Betting on their portfolio, Banque du Caire intends to increase car loans portfolio to 40%, CIB to spend EGP 150m by first quarter end
Egypt’s Central Bank agrees to sell both BNP Paribas and NSGB
The Central Bank of Egypt (CBE) agreed to plans discussed last week to sell both BNP Paribas and National Société Générale Bank (NSGB)
A reform package for the Islamic banking and finance sector proposed for the new year
The goal of the package is to create an environment conducive for Islamic banks to operate
Al-Oqda to liquidate banking sector’s development and modernisation fund
The total number of money paid in salaries for public bank employees rose from EGP 1.5bn in 2003 to EGP 4.7bn in 2010
ITIDA targets 17 per cent growth in IT sector by 2013
280 companies have been granted loans with updated registration requirements based on the standards of ITIDA
The banking sector and global financial stability: challenges and prospects
“Eurozone crisis aggravated by common monetary policy in Europe”