Latest in Tag: banks Highlight
Latest in Tag: banks
2017 is the year of harvesting fruits of 2016 economic reforms: Tinawi
ABC-Egypt finalised preparing SMEs service infrastructure; ready to begin supporting the sector
Banks to be vital for supporting the economy in 2017: Elkosayer
PBDAC will continue its role to serve Egyptian peasants with greater diversification of its products
Banks to increase size of financing for factories and projects, reduce size of funding budget deficit: Elkady
United Bank aims to implement a strong expansion plan in various sectors after the capital increase by the CBE
Strong expectations for banks to increase financing to SMEs and major projects in 2017: El-Etreby
Banque Misr aims to implement a strong plan to expand in terms of products and geography
Banks to double SMEs financing volume in 2017
Banks granted financing worth EGP 17bn for small, micro, and medium enterprises from January until September 2016
Banks achieve net profits worth EGP 30.143bn in Egyptian market until September 2016: CBE
The five largest banks acquire 44.32% of total profits, 42% of total revenues
Non-performing loans reach 5.9% by the end of September 2016: CBE
The private sector acquired 70% of total loans offered by banks to clients, loans to deposits ratio recorded 44.2%
Banks offer investments worth EGP 91bn in CBE’s deposit operation on Tuesday
Banks operating in the domestic market offered investments worth EGP 91bn of surplus liquidity in local currency via deposit operations, which was deposited by the Central Bank of Egypt (CBE) on Tuesday, according to data obtained by Daily News Egypt. The CBE accepted EGP 75bn of the investments it was offered at an interest rate …
8 Egyptian banks among top 100 Arab Banks: UAB
Egypt occupies fifth place according to the number of banks on the list, and QNB tops Arab banks in terms of size of assets
10 banks offer EGP 6bn syndicated loan to Etisalat Egypt
A banking alliance of 10 major banks signed a syndicated long-term loan to Etisalat Egypt, amounting to EGP 6bn, to finance the purchase of the 4G licence and the new frequencies, as well as the repayment of the existing dues and the company’s operation expenses. The alliance included the National Bank of Egypt (NBE), the …
Banks finance foreign trade operations worth $7.9bn since flotation until 14 December: CBE
This sum includes the repayment of letters of credit and documents of collections worth $4.6bn, which were issued earlier, and new letters of credit worth $3.3bn
Banks provided financing worth EGP17bn to SMEs and micro enterprises in 9 months: CBE
The recent issuance of certificates has attracted new deposits from outside the banking system estimated at EGP 64bn
30 international and local banks prepare to finance renewable energy projects with $3bn
All banks have agreed to lend to companies in the second phase of the feed-in tariff, says Youssef
US dollar exchange records EGP 18.25 at banks on Thursday
The US dollar exchange rate against the Egyptian pound witnessed huge fluctuations during this week
Credit facilities granted by banks to their clients in August increased by EGP 12.3bn: CBE
Private sector accounts for 59.4% of the total facilities, deposits increase by EGP 34.4bn
Egyptian pound continues to decline against US dollar at banks
The currency exchange is governed by supply and demand, says CBE and banks
CBE allows banks to direct part of US dollar-denominated proceeds to cover temporary overdrafts on customer accounts
The Central Bank of Egypt (CBE) has allowed banks working in the domestic market to direct part of their proceeds denominated in US dollars to cover customers’ temporarily overdraft accounts. According to the CBE’s instructions received by banks on Tuesday, after covering imports on essential goods banks can direct 50% of their hard cash towards …
Government should improve, otherwise it should quit: Free Egyptians Party head
The Free Egyptians Party supported the government’s decision to float the Egyptian pound and increase fuel prices in order to bolster the Egyptian economy, says Abed
Despite high interest, banks attract only EGP 26bn of new funds into saving certificates
Investments in new saving certificates amount to EGP 135bn, 81% recycled from other vessels within banks
Banks begin providing hard cash to import non-essential goods on Sunday
Banking sector financed import of food commodities, medicines, and production inputs worth $2.492bn in 13 days, says the CBE
Banks secure $2.2bn to meet customers’ needs since pound flotation: cabinet
Banks have received $2.6bn as of Monday, says CBE governor
US dollar price varies at banks, CBE on Tuesday
Bankers expect the greenback to change hands at EGP 15-16 for three months
US dollar continues to fall on Monday, recording EGP 15.25-15.32 in official market
The price of the US dollar against the Egyptian pound continued to decline on Monday, recording EGP 15.25-15.32 for buying and EGP 15.75-15.85 for selling at several banks in the Egyptian market. The US dollar exchange rate against the pound recorded EGP 15.25 for buying and EGP 15.75 for selling at the Commercial International Bank …
Market sees high sales volume of dollars, new saving certificates at banks in 2nd week since flotation
The amount of dollars Banque du Caire received in one day is equivalent to a full month’s worth of dealings previously, says chairperson
Large portion of dollars in banks since Monday come from customers switching saving schemes to Egyptian pounds: prominent banker
High expectations that foreign currency deposits will decrease while Egyptian pound deposits will increase by end of the month
Large number of Arab, foreign banks in Egypt reflects country’s regional and international position: experts
Arab and foreign banks are more likely to make high profits in Egypt compared to the rest of the world
Heads of banks explain Arab, foreign banks’ attraction to Egyptian market
Egypt is a promising market and has very few bank accounts compared to its population, creating many opportunities for growth
Egypt Post increases interest rate on savings accounts to 10.25%
Total value of deposits and invested money in Egypt Post amounts to EGP 184bn
CBE instructs banks in some areas to remain closed on 11 November
The CBE’s measure comes as a precaution for violence that may occur in these areas during the demonstrations on that day
Banks pose new restrictions to confront saving certificates leveraging scheme
A number of banks in Egypt have developed new restrictions for granting loans guaranteed by deposits, both short-term deposits and saving certificates. This aims to put an end to the phenomenon—also known as leveraging—that swept through banks in the past few days. Over the week, banks have noticed an increase in appetite from customers to …