Latest in Tag: banks Highlight
Latest in Tag: banks
Net profits of banks operating in Egypt reach EGP 93.4bn in September 2022
Net revenue of banks operating in Egypt amounts to EGP 225.807bn
Banks pump EGP 51bn to 454,000 customers as part of real estate financing initiative for low-income people
Banque Misr came in second place with total financing of EGP 12bn for 104,300 customers with a share of 22.7%, while the Housing and Development Bank came in third place with financing amounting to EGP 6.512bn directed to 69,301 customers with a share of 12.2%.
Banks expand financial services to people with disabilities upon CBE directives
This aims to facilitate citizens’ access to banking services, products
Total financial position of banks increased to EGP 10.511trn in August 2022
EGP 1.198trn increase in customer deposits within 8 months, household sector accounts for 79.9% of total deposits
Banks ready to work with financial derivatives
Future contracts give investors confidence and reassurance in transactions
Banks pump EGP 345bn in industrial sector within initiative to support private sector: CBE
Trade sector much easier to deal with as opposed to industrial sector, which requires greater development efforts: Hassan Abdallah
Banks operating in Egypt spend EGP 882.9m in CSR during 1H 2022: CBE advisor
Banking sector is major supporter of all state-initiated social, development initiatives
Banks pump EGP 48.3bn in mortgage finance for low-income segment in September 2022
NBE is in the lead, with EGP 13.7bn in funding
Banks in Egypt set withdrawal limits on using ATM cards abroad to ease pressure on FX reserves
Steps comes after spotting manipulation practices
Banks operating in Egypt tend to replace LIBOR with SOFR as reference rate for dollar certificates, deposits
Banks in Egypt will modify rates on dollar certificates in line with global dollar rates to attract savings in foreign currency
Banks operating in Egypt report EGP 56.8bn in profits during 1H 2022: CBE
Total financial position of banks in Egypt increased to about EGP 10.037trn
CBE reveals most prominent indicators of banks’ deposits and investments in 1Q 2022
Customer deposits rise to EGP 6.980 trillion by end of March, of which 80.8% are for the household sector
Egypt’s PM discusses readiness to participate in COP 27 with several heads of banks, major companies
Madbouly began the meeting by noting the importance of convening the conference during these exceptional global circumstances, pointing out that the COP 27 has gained much momentum since the COP 26, which saw the announcement of a package of pledges that would contribute to reducing the negative impacts of carbon emissions and put the world on a more sustainable and less carbon-producing path.
EGP 786bn increase in total financial position of banks in 1Q 2022
Non-performing loans decreased to 3.3% of total portfolio by end of March 2022, compared to 3.5% in December 2021
Local institutions, banks launch ‘Avans Manara’ fund for direct investment, targeting EGP 2bn volume
Fund’s issued capital amount to EGP 905m
CBE announces key performance indicators of banks operating in Egypt during 2021
Bank deposits increase to EGP 6.45trn, of which household sector accounts for 82.4%
Banks in Egypt show strong recovery indicators from COVID-19 repercussions in 2021
Net profits of banks increase to EGP 107.132bn in December, compared to EGP 88.103bn in September 2021: CBE
Banks in Egypt finance MSMEs with over EGP 400bn during 2021
Egypt has more than 3 million MSMEs
Total financial position of banks in Egyptian market approaches EGP 9trn in November 2021: CBE
Bank deposits increase to EGP 6.306trn, credit facilities up to EGP 3.066trn, of which 60.2% granted to private sector
Total financial position of banks in Egypt stands at EGP 8.758trn in October 2021
Total bank deposits increase to EGP 6.191trn, credit facilities reach EGP 2.996trn
EGP 53.774bn increase in local currency deposits at banks in Egypt during May 2021: CBE
Volume of term deposits, proceeds of savings certificates in foreign currencies increased to EGP 503.085bn
12 banks in Egypt report EGP 6.495bn net profits during Q1 2021
CIB accounts for 44.27% of 12-bank profits, whilst HDB ranks second with net profit of EGP 620m
4 banks acquire 90% of Islamic banking in Egyptian market
Faisal Islamic Bank of Egypt ranked first with EGP 119bn turnover in March 2021
Financial position of banks in Egypt increases to EGP 7.3trn in February: CBE
Foreign investments in Egypt’s T-bills amount to EGP 313.68bn in March 2021
Financial position of banks in Egypt rises to EGP 7.158trn in January 2021: CBE
Net foreign assets increase by EGP 152.5bn over 7 months
Banks in Egypt increase capital to comply with new banking law
Law stipulates minimum capital of EGP 5bn for banks operating in Egyptian market, $150m for foreign bank branches
Banks in Egypt see EGP 50.921bn increase in net foreign assets in February 2021: CBE
Proceeds of saving certificates, deposits in local currency rise by EGP 76.77bn in one month
CBE, Supply Ministry sign finance agreement to develop bakeries through banks
Agreement comes as part of Presidential directives to maximise use of Egypt’s natural resources, expand use of clean energy
Banks in Egypt see EGP 2.448trn credit facilities in November 2020: CBE
Total bank deposits rose to EGP 5.126trn in November 2020, compared to EGP 5.088trn in October 2020
EGP 1.166trn increase in financial position of banks in Egypt during 2020: CBE
Banks report EGP 325.761bn reserves, EGP 162.274bn provisions to nonperforming loans