Latest in Tag: banks Highlight
Latest in Tag: banks
Policeman killed, another injured in Mohandesin drive-by shooting
Two gunmen on a motorcycle opened fire on the policemen, who were guarding the HSBC and Union National Bank branches in Sphinx square in Mohandesin, Giza.
Citibank Egypt still studying banks’ offers to buy its consumer business
Vice president denies 9 banks have offered purchase
Policeman killed, another injured in drive-by shooting in Giza
A policeman was killed and another injured in a drive by shooting in Giza Saturday morning, according to state news agency MENA. The attackers escaped. Two gunmen on a motorcycle attacked and opened fire on policemen guarding HSBC and Union National banks branched in Sphinx square in Mohandesin, Giza. The attacks resulted in the killing …
$1.1bn decrease in foreign reserves from October to November: CBE
Decline mainly due to the repayment of accrued deposits to Qatar, claims economist
Banks to begin paying returns for Suez Canal certificates Sunday
The value of the first instalment is estimated to be approximately EGP 1.9m
Fawry changing the culture of payment in Egypt: Top management
Daily transaction rate has gone up from 1,000 per day by the end of 2009 to over 1m, says CPIO
Banks given chief responsibility for promoting economic summit projects: Investment minister
Al-Sisi to promote political, economic, and legislative changes in year-end foreign tour
Banks highlight improved services, quarterly results
CIB Q3 net profit rises 5.6% Egypt’s leading bank, Commercial International Bank (CIB), reported a 5.6% rise in the third quarter (Q3) net profit. The bank added that the net profit stood at approximately EGP 972m, up from EGP 920.4m in the same quarter last year. Q3 consolidated revenues were EGP 2.04bn, up 17% from …
BNP Paribas Wealth Management wins private bank awards for Europe, North Asia
Awards confirm their position as a “reference private bank”, say Wealth Management co-CEOs
AAIB expands ATM service in Egypt
Expansion brings bank’s total number of ATMs to 286 across the country
Banks spent EGP 1bn for social development over past 3 years: FEB chairman
Egyptian banks set aside 2% of profits for 2012 to develop slums in different areas across Egypt
Bank contributions to Tahya Masr fund reach EGP 400m
Investment bank EFG Hermes makes EGP 20m donation to the fund
6m tax-exempted Suez Canal investment certificates to be issued: CBE governor
Following the presidential approval of the Suez Canal investment certificate law, protocol to be signed between CBE, four public banks and the Suez Canal Authority
Overview of banking sector performance over FY 2013/2014
Daily News Egypt takes a closer look into the banking sector’s performance over the past fiscal year, with examples of the financial results of state-owned, private and Islamic banks
Suez Canal investment certificates issued within next week: CBE governor
$0.5bn repaid to Qatar at beginning of October, said Hisham Ramez
Credit Cards explained
The Daily News Egypt defines what credit cards are, analyses their presence in Egypt and interviews several experts on the matter.
Addressing bureaucracy, administrative corruption necessary for economic reform: Experts
Bureaucracy, complicated investment legislation, and administration corruption are the main stumbling blocks to economic reform, several heads of banks said during the People and Banks Conference last Wednesday. Participants in the conference discussed how to work to restore investor confidence in the Egyptian market in order to transform it into a magnet for Arab and …
Non-cash transactions in Egypt up to 7%; consultations underway with CBE for electronic services: Bankers
The size of non-cash transactions in Egypt has reached approximately 7%, the head of business at MasterCard Egypt said during the People and Banks conference on Thursday. He added that non-cash transactions have reached “90% in France and Belgium, 80% in America, 60% in Korea and Japan, 30% in the UAE, 20% in Saudi Arabia, …
Loan assets in banks increased by EGP 3.6bn in February: CBE
Central bank says loans granted to the government slumped by EGP 739m, while amount loaned to non-governmental sector increased by EGP 4.39bn
Taxes from top companies total EGP 7.1bn
Telecom Egypt, Ezz Steel, and Cemex Egypt among top tax paying companies
West struggles for winning formula on Russian sanctions
Some of the Western bankers, money managers and oil traders who help keep that money moving are unconvinced sanctions will have a truly significant effect.
Visa collaborating with government on online payment services: Visa’s general manager
Daily News Egypt interviews the General Manager of Visa in the North and Francophone Africa region Tarek Elhousseiny
Banque Misr launches new programmes for micro, small and medium enterprises
The bank announces three loan programmes divided by project size
Emirates NBD launches brand in Egypt
NBD aims to enhance and strengthen ties between Egypt and the UAE, says NBD chairman
Russian sanctions ripple through corporate boardrooms
Denmark’s foreign ministry held a special briefing for about 130 companies, including drugs firm Novo Nordisk and brewer Carlsberg on Friday after being inundated with inquiries about the business implications of the crisis.
Egyptian Banking Institute kicks off sixth annual conference
EBI conference this year encourages banks to adopt more sustainable practices
Banks should contribute to all economic sectors equally: Bankers
“What matters for banks is the ability to meet deadlines for loan repayments,” says former Chairman of Misr Iran Development Bank
Bank loans to governmental authorities is a secure investment: Experts
The banking sector has been a source for filling financial gap of public authorities through granting them loans. Although experts stated that this initiative may be “politically motivated”, they stressed that banks always have reserves for loans.
2014 outlook broadly stable for GCC banks; regional unrest a threat elsewhere in Middle East: Fitch
Fitch believes that impairment charges should fall, leading to a gradual improvement in profitability, although further recovery in asset quality will depend on continued economic growth.
Social solidarity minister exempts public banks and oil companies from maximum income law
Boraie says decision was made to retain ability of sectors to compete with private sector