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Volume of doubtful debts allocations amounts to EGP 150.877bn, reserves amount to EGP 214.349bn
In a recent report, the CBE stated that demand deposits in local currency also increased by EGP 18.829bn to EGP 507.804bn in August, compared to EGP 488.975bn in July.
Upper Egypt largest beneficiary of development projects implemented, seeing 79,000 projects put in place with EGP 6.7bn in loans
Returns on some savings certificates and loans automatically dropped by 0.5% after corridor price falls
Banking sector deposits rise to about EGP 4.7trn, financial position of banks jumps to EGP 6.408trn by end of June 2020
Renewal for Okasha, El-Etreby and their deputies at NBE and Banque Misr, respectively, as Fahmy leaves IDB
Banks allocate EGP 150.079bn to address doubtful debts, alongside reserves of EGP 319.817bn
Complete inventory is being undertaken of clients benefiting from CBE loan deferral initiative
Should the deal be sealed, TE would merge WE with Vodafone Egypt
Fear of COVID-19 repercussions, increase in provisions for doubtful loans put pressure on banks’ balance sheets
CIB adopts long-term strategy to develop digital channels, automate payments, says Mohamed Farag
About EGP 180bn has been invested in 120,000 companies as part of CBE initiative to support MSMEs, says CBE Governor
Egyptian banks to support new accounts at no minimum amount or fees, free e-payment cards
In exclusive statement to Daily News Egypt, El-Etreby said that the donations have been given to a fund devoted to this matter.
Afreximbank elaborated that the $3.55bn support has been provided to the Central Bank of Egypt (CBE) and other Egyptian banks through its Pandemic Trade Impact Mitigation Facility (PATIMFA).
Total deposits up by EGP 92.4bn, total loans rise by EGP 91.9bn
Daily News Egypt monitors profit decline of 12 banks out of 16 surveyed
NFA surplus with banks, CBE records about $5.3bn increase
IBAN used in international transfers, standard method for accurate identification of bank accounts
Net foreign assets decline by EGP 171.5bn in March, foreign investments in Egyptian T-Bills decrease by EGP 37.819bn in Apri
CBE figures also show decrease in surplus of net foreign assets for second consecutive month
Financial position of banks operating in local market touches EGP 6trn, deposits and loans rise
Top 5 banks account for 50.1% of sector’s total profits, top 10 achieve EGP 58.7bn profits
Banks make donations as follows, EGP 80m from NBE, EGP 40m from Banque du Caire, and EGP 20m from EBE
The government has announced an exceptional financial assistance for irregular workers affected by the ongoing coronavirus (Covid-19) outbreak and preventative measures.
Banks given 3 months to filter databases, 12,000 companies, 320,000 citizens benefit from decision
CBE stresses importance of using electronic payment channels to limit virus spread
CBE included microfinance sector in the initiative on Monday
CIB suspends all internal activities including gatherings in large numbers, limits training to online courses
CBE has signed an agreement with Nile University for a period of five years under the name “Nile Pioneers” aimed at developing, qualifying, and increasing the capabilities of young entrepreneurs in small and medium enterprises (SMEs).