Latest in Tag: banks Highlight
Latest in Tag: banks
Financial position of banks in Egypt up EGP 648.9bn in 1Q-3Q FY2020: CBE
Net foreign assets decline by EGP 171.5bn in March, foreign investments in Egyptian T-Bills decrease by EGP 37.819bn in Apri
Local currency deposits in banks rise by EGP 41bn in April
CBE figures also show decrease in surplus of net foreign assets for second consecutive month
CBE reveals February 2020 data for banks operating in Egypt
Financial position of banks operating in local market touches EGP 6trn, deposits and loans rise
Egypt’s banks report EGP 83.18bn net profits in 2019: CBE
Top 5 banks account for 50.1% of sector’s total profits, top 10 achieve EGP 58.7bn profits
Banks in local market move to support irregular employment
Banks make donations as follows, EGP 80m from NBE, EGP 40m from Banque du Caire, and EGP 20m from EBE
Cabinet denies disbursing EGP 500 aid to irregular workers at banks
The government has announced an exceptional financial assistance for irregular workers affected by the ongoing coronavirus (Covid-19) outbreak and preventative measures.
CBE abolishes black lists, allows irregular customers dealings with banks
Banks given 3 months to filter databases, 12,000 companies, 320,000 citizens benefit from decision
Banks tighten COVID-19 precautions following cases detected in some branches
CBE stresses importance of using electronic payment channels to limit virus spread
Banks implement CBE’s initiative delaying loan instalments for individuals, companies
CBE included microfinance sector in the initiative on Monday
Banks stand up against Coronavirus to protect employees, clients
CIB suspends all internal activities including gatherings in large numbers, limits training to online courses
Banks consider establishing investment fund to enhance Nile Pioneers initiative
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).
Banks in Egyptian market show strong performance by 2019 end
CIB – Egypt ranks first with profits of EGP 11.8bn, QNB Alahli ranks second with profits of EGP 8.522bn
CBE doubles mortgage finance share to 10% total loan portfolio at banks
Growth of the real estate sector contributes to the continuous improvement of economic indicators: deputy governor
Expected change in banks map Egyptian market
Expected exits, acquisitions, mergers, against Lebanese crisis, implementation of new banking law
Banks’ credit facilities reach EGP 1.84trn November 2019
Private business sector accounted for 59.2% of the total facilities, and the industrial sector is at the forefront of the sectors that benefit from it: CBE
Euronet Worldwide contracts with banks to provide services in Egypt’s tourism sector
Company plans to increase its remittance transactions to Egypt, says its vice president for Middle East, Africa and Pakistan region.
Banks in Egypt inject EGP 144.2bn to finance MSMEs from Dec. 2015 to June 2019: CBE
Service sector received EGP 62.2bn banking funds, while industrial sector got EGP 43.1bn
20 banks finance 254,200 beneficiaries by EGP 24.6bn in CBE’s mortgage finance initiative
8 companies inject EGP 1.5bn, Taamir Mortgage tops with EGP 551.6m with 4,800 clients
CBE issues new regulations for microfinance in banks
Excluding credit portfolios purchased from micro finance companies or associations in 20% allocated to SMEs from loan portfolios at banks
Credit facilities by banks fall EGP 35.2bn in July to EGP 1.8trn: CBE
Private sector receives 60.3% of total facilities, industry at the forefront of beneficiaries, says CBE
Banks apply limited interest cuts after CBE slashes basic rates
Most cuts were limited to variable return certificates
Moody’s sees Egypt’s rate cut, easing inflation as credit positive for banks
Credit rating agency expects Egypt’s GDP to grow 5.6% in 2019, additional rate cuts next year
Banks allocate EGP 122bn to face doubtful debts until June 2019: CBE
Slight increase in non-performing loans at banks in 1H 2019, reaching 4.2% of total loan portfolio compared to 4.1% at end-March, says CBE
Banks’ SMEs funding amounts to EGP 146bn, targeting EGP 200bn by year-end: El-Etreby
The CBE has instructed banks working in the local market to allocate 20% of their loan portfolios to finance SMEs. El-Etreby pointed out that NGOs were also included within this segment.
Banks reduce NPLs allocations by EGP 2.95bn in June 2019
Reserves declined to EGP 236.06bn end-June, compared to EGP 238.89bn end-May
Bank deposits up by EGP 95.471bn recording EGP 4.007tr in June
Banks’ credit facilities see EGP 224.7bn rise, private business sector holds 60.7%
E-Banking future of banks inside, outside Egypt: Ozalp
Blom Bank Egypt launches contactless payment service via credit, debit cards
Banks issued over 31m e-payment cards in Egypt by end-2018: CBE
Largest ten banks in Egypt hold more than 81% of credit and debit cards
Banks’ credit facilities see EGP 218.6bn rise in 11 months
Private sector accounts for 60.8% of total facilities, with industry in the lead, says CBE
Banks pumped EGP 400m to develop informal areas in Cairo and Giza: Ezz El Arab
CIB chairperson reveals that the development process includes infrastructure, roads, water delivery, schools, sanitation