Latest in Tag: banks Highlight
Latest in Tag: banks
Can banks achieve financial inclusion in Egypt?
CBE establishes special unit to support efforts in this matter, headed by Bassiouny, supervised by Abulnaga
Banks take to various parts of country during Financial Inclusion Week
Banks open free accounts with no minimum balance, issue electronic payments cards free of charge
Banks’ foreign trade operations worth $28bn between flotation and 10 April
Documentary credits opened for $9bn, repayment of other collection and credit documents for $19bn
Industrial sector acquires 27.98% of bank loans
Government institutions are the second largest sector in terms of obtaining bank loans, followed by the services, household, and trade sectors, while agriculture came in last
Banks start activities of financial inclusion week on Thursday
Negm addresses banks to be present in remote areas, clubs, and universities, display banking products proper for this segment of traders
International banks agree to finance solar energy projects worth $3bn
Companies are looking forward to obtaining letters of initial approvals before 28 April
Banks opened letters of credit worth $6.34bn for petroleum product imports in 2016: CBE
The banking system has collected $19.2bn since the flotation
El-Sherif asks businesspeople and investment banks to help develop 4,770 villages
Minister of Local Development Hisham El-Sherif called upon businesspeople and investment banks who took part in the annual capital market summit to contribute to the development of 4,770 villages around Egypt. He explained that the ministry aims to transform poor villages from being consumers into self-sufficient villages that are able to produce and export. He …
OBG publishes its expectations for Egypt’s Banks
The group expects positive results and describes the outlook as stable
Banks acquired 74 of outstanding treasury bills in January 2017
Foreigners’ investments in state debt instruments increased to EGP 79bn in first week of April 2017
Household sector accounts for 75% of deposits at banks in December
It is very normal that individuals’ share in deposits is higher than companies’, Yousef says
Trump’s plan for banks draws Fed’s criticism
A leading Federal Reserve governor has warned US President Donald Trump against an overhaul of current banking regulations. He said tighter rules had been introduced for a reason after the global financial crisis.Federal Reserve Governor Daniel Tarullo insisted that the current strong capital rules applying to the US banking sector should be kept in place. …
Egypt’s banks achieved net profits of EGP 53.066bn until December: CBE
Egypt’s five largest banks acquire 42.66% of total profits achieved by banks working in the Egyptian market
Banks offer their support to real estate sector
NBE provided letters of guarantee worth EGP 5bn for the sector of construction, says Aboul Fotouh
Banks increase bad debt allocations by EGP 27.2bn due to flotation
Total financial position of banks climbed to EGP 3.99tn at the end of November 2016, increasing by EGP 857.2bn from October
Flotation drives deposits at banks to EGP 490bn, loans to EGP 313.3bn in November 2016
137.2% growth in foreign currencies deposits in flotation month, drops to 18.3% after excluding impact of the decision
USD leaps against EGP, records EGP 18.10 at banks
Demand on USD for Ramadan importations accelerate pound depreciation
Market awaits changes in bank leadership in mid April
Banks will present their recommendations to the CBE’s governor, since the law allows the latter to reject officials
CBE forces banks to notify it before providing foreign currency to government institutions
Banks are obliged to notify the CBE before providing foreign exchange for any governmental entity
The informal market returns to scene of US dollar crisis
USD price at banks stood at EGP 17.55 to buy, and EGP 17.70 to sell
Banks resilient in face of challenges Egypt witnesses: UAB
Egyptian banks are still operating well and achieved growth in most areas
CBE sets controls for its initiative to renovate tourism sector
Banks finance 75% of total replacement and renovation cost, clients bear the remaining amount
Assigning implementation of New Administrative Capital to Egyptian companies falls in favour of banks in Egypt: Abdellah
Banks are required to facilitate procedures for those companies to obtain letters of guarantee and necessary funds
Banks experiencing significant disposal operations of foreign currency; dollar registers lowest level since November 2016
Significant decline in Arab and foreign currencies traded in domestic market due to decline in dollar prices
Only 14 banks among 39 operating in Egypt participated in mortgage-financing initiative launched by CBE to finance low- to middle-income housing
These banks provided EGP 5bn to finance the purchase of 62,000 housing units since the launch of the initiative in February 2014
Banks operating in Egypt record EGP 56bn net profits in 2016: CBE
The Egyptian banking sector is powerful and capable of overcoming the effects of the flotation of the pound, with capital adequacy of 14.9%, Negm says
Bank loans increased by EGP11bn during October
Non-governmental loans recorded EGP 786.4bn in October
Increase of EGP 38.4bn in total credit facilities granted by banks to customers from July to October: CBE
The private sector acquires 59.6% of total credit facilities
Banks, pharmaceutical shares expected to attract investors in 2017
The flotation of the Egyptian pound will play an influential role in determining the attractiveness of shares for investors during 2017, especially after the price of the US dollar increased to more than EGP 19, which will affect companies’ activities and their ability to make a profit. Financial and technical analysts expect that the most …
2017 is full of opportunities and challenges for banks in the Egyptian market: Fayed
Bank Audi will focus on financing food, medicine, and production requirements this year