Latest in Tag: banks Highlight
Latest in Tag: banks
SMEs: Egypt’s broken backbone?
Banks are keen to loan to SMEs; now however is not the right time due to the high unpredictability in the economics in Egypt, says Levari Law Founder
28 banks offer to invest EGP 225.98bn of surplus liquidity in CBE deposits
The CBE raised the Deposit Operation mechanism on Monday, in order to absorb excess liquidity from banks operating in the Egyptian market.
Government plans to borrow EGP 281.5bn from banks in coming 3 months
Finance ministry to issue treasury bills worth EGP 199.5bn, bonds worth EGP 82bn from October to end of December
24.4% increase in banks’ net value added in FY 2013/2014: CAPMAS
81% decline in banks’ value of savings during FY 2013/2014
Will banks fund state budget deficit or development projects?
The CBE could help banks do both if provided with sufficient liquidity, says former governor
Global Lease in talks with 4 banks to acquire EGP 600m: Managing Director
Plans to double issued capital to EGP 100m by H1 of 2016
CBE, banks face 6 major challenges in upcoming period
Challenges include adjusting foreign exchange market, rebuilding reserves, and controlling inflation, say analysts
IFC commits $783m to MENA infrastructure in FY 2014/2015: Egypt director
There is much space for future PPPs in infrastructure, port expansions, and industrial and logistics zones, says Shousha
Money pools spread to avoid interest rates on loans
Banks should offer new products and incentives suitable for low-income citizens, reconsider interest rate on loans and ease loans procedures, says El-Khawaga
Moody’s stable outlook for banks followed positive performance: Banking expert
Ratings agency Moody’s upgrades banking sector outlook from negative to stable
Banks compete for board membership of Egyptian Federation for Mortgage Finance
First general assembly will be held, board of directors elected Thursday
Banks invest over EGP 159bn in fixed income tools in 1 week: CBE
EGP 138.7bn invested in CBE and EGP 20.75bn in treasury bonds, treasury bills
Conflict on maximum wage continues between banks, government
Administrative court’s decision not to subdue bank employees to the maximum wage is final, immediately enforceable, says legal consultant
Banks await Majid Al Futtaim announcement on funding alliance: Bank Audi Egypt
Two bank alliances, consisting of 12 banks, compete to grant company EGP 2.4bn
Real estate tax crisis ongoing between banks, finance ministry
Mediation fails between the banking sector and the government over obliging banks to pay tax on defaulters’ real estate
ETF to demand banks initiate purchase of bankrupt companies: Official
Big banks that would be asked to execute plan are NBE, Banque Misr, Housing and Development Bank, CIB, and Barclays
Moody’s upgrades CR assessments for 5 Egyptian banks
On 15 May, Standard and Poor’s revised its outlook on Egypt, raising it from stable to positive
Banks can appeal property tax assessment: Finance Ministry
Regulations offered to facilitate application of property tax law
CBE decreases issuance of weekly FX auctions
The step was taken to increase the supply of the US dollar in the Egyptian market, and fight the black or parallel market.
Tourism investors face obstacles in Egypt
Banks prefer to loan government over investors, says Egyptian Tourism Federation Chairman
CBE maintains key interest rates
The CBE also kept the discount rate unchanged at 9.25%.
HSCB launches EGP300m growth fund for SMEs
This is the second growth fund launched by the bank
Emirates NBD Egypt net profit hikes 22% in 2014
Total assets increased by 20%, registering over EGP 24.3bn
ECESR wins appeal, white taxi owners to renew licences without bank statement
Ministry of Finance has supported white taxi project with EGP 1.5bn since 2009
Local banks deny restrictions on providing $100 notes
The Central Bank of Egypt gave no instructions to lenders operating in the country not to replace $100 notes with smaller units when conducting transactions for clients, several bankers told the Daily News Egypt. This comes on the wake of reports carried by media outlets claiming that the CBE has ordered banks to replace $100 …
3 investment banks promote 11 developmental projects for Economic Summit
Global Swiss bank expressed desire to participate in marketing Conference’s investment projects
28.5% of Egyptian banks provide mobile banking
Banks allow use of applications by clients and non-clients to check accounts, keep track of exchange rates and currency conversion
Following deposits’ ceiling, dollar to remain stable until March summit: Officials
CBE placed ceiling deposit of $10,000 per day and $50,000 per month
Output and new orders of private companies decline: HSBC
Lower demand contributed to output, the bank stated
NBE, CIB remain key players in treasury bills and bonds markets
Bank Misr, Crédit Agricole, Banque Misr also among market leaders for treasury bills and bonds