Latest in Tag: banks Highlight
Latest in Tag: banks
Financial position of banks in Egypt approaches EGP 7trn in October 2020: CBE
Banks’ total capital reaches EGP 174.592bn, reserves EGP 314.082bn, provisions to nonperforming loans record EGP 154.853bn
Central Bank of Egypt reveals market performance indicators in September 2020
Customer deposits break EGP 5trn mark for first time in local market
Banks adhere to cash dividends halt in Egypt to support capital base
Decision aims to maintain banking sector’s integrity, take proactive steps to meet potential risks, say bankers
Central Bank halts cash dividends at banks in anticipation of continued pandemic
Banks will not make cash dividends from profits or retained earnings to shareholders in anticipation of potential risks associated with pandemic
Central Bank of Egypt issues instructions to manage operating risks at banks
The Central Bank of Egypt (CBE) has issued new instructions regarding the management of operation risks at banks working in the Egyptian market. The CBE also said that it is continuously following up on and applying international practices in the field of banking supervision in the Egyptian banking system. This takes place by regular observation …
EGP 481bn increase in financial position of banks in Egypt during Q3 2020
CBE indicated that the capital of the 10 largest banks operating in the Egyptian market reached about EGP 120.822bn in September 2020
913 banks, financial institutions benefit from Egyptian Credit Bureau’s services
I-Score has database of credit information for 18.6 million individuals, 415k SMEs
Egypt’s internal trade authority to open commercial registry offices in banks for first time
First Assistant Minister of Supply and Head of the ITDA, Ibrahim Ashmawy, said they are also working to provide commercial registry services in all chambers of commerce across the country. The plan includes approximately 35 banks as well.
Financial position of banks in Egypt increases to EGP 6.676trn in August 2020: CBE
Volume of bank deposits records EGP 4.9trn, with credit facilities reaching EGP 2.269trn, of which 59.6% for private sector
Top 10 Egyptian market banks report EGP 14.661bn in net profits in September
QNB Alahli accounts for 38% of total profits achieved by top 10 banks, recording EGP 5.572bn
Banks in Egypt discuss fate of interest rates following CBE’s cut
Yield of some savings certificates, loan products automatically decreases by 0.5%, while market awaits launch of first bids for T-bills, bonds
Financial position of banks in Egypt up EGP 96.9bn in July 2020: CBE
Volume of doubtful debts allocations amounts to EGP 150.877bn, reserves amount to EGP 214.349bn
Local currency deposits with Egypt banks up EGP 80.104bn in August: CBE
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.
6 banks provide EGP 15.4bn to ‘Mashro’ak’ programme by end of August 2020
Upper Egypt largest beneficiary of development projects implemented, seeing 79,000 projects put in place with EGP 6.7bn in loans
Banks to study impacts of interest rate cut on savings, loan products
Returns on some savings certificates and loans automatically dropped by 0.5% after corridor price falls
CBE reveals bank performance indicators for H1 2020
Banking sector deposits rise to about EGP 4.7trn, financial position of banks jumps to EGP 6.408trn by end of June 2020
State banks see limited changes to Boards of Directors
Renewal for Okasha, El-Etreby and their deputies at NBE and Banque Misr, respectively, as Fahmy leaves IDB
Non-performing loans in Egypt’s banks drop to 3.9% end-June
Banks allocate EGP 150.079bn to address doubtful debts, alongside reserves of EGP 319.817bn
Banks explore repayment options of deferred loan instalments during COVID-19
Complete inventory is being undertaken of clients benefiting from CBE loan deferral initiative
TE considers Vodafone Egypt acquisition as banks willing to finance deal
Should the deal be sealed, TE would merge WE with Vodafone Egypt
17 banks in Egypt report total EGP 18.565bn net profits in H1 2020
Fear of COVID-19 repercussions, increase in provisions for doubtful loans put pressure on banks’ balance sheets
COVID-19 helps banks expand in digital services: CIB Official
CIB adopts long-term strategy to develop digital channels, automate payments, says Mohamed Farag
Al-Sisi directs banks in Egypt to continue local market support, development financing
About EGP 180bn has been invested in 120,000 companies as part of CBE initiative to support MSMEs, says CBE Governor
Egypt banks celebrate International Youth Day with increased support for financial inclusion
Egyptian banks to support new accounts at no minimum amount or fees, free e-payment cards
Banks in Egypt contribute EGP 700m to support daily labourers: El-Etreby
In exclusive statement to Daily News Egypt, El-Etreby said that the donations have been given to a fund devoted to this matter.
Afreximbank grants $3.55bn to Egypt banks amid COVID-19 response
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).
Financial position of banks in Egypt up to EGP 6.421trn in April: CBE
Total deposits up by EGP 92.4bn, total loans rise by EGP 91.9bn
Banks in Egypt hedge against COVID-19 despite Q1 profit decline
Daily News Egypt monitors profit decline of 12 banks out of 16 surveyed
Egypt banks see EGP 62bn increase in local currency deposits in May
NFA surplus with banks, CBE records about $5.3bn increase
Banks in Egypt switch to IBAN standard to ease cross-border transactions
IBAN used in international transfers, standard method for accurate identification of bank accounts