Latest in Tag: CBE Highlight
Latest in Tag: CBE
CBE obliges banks to establish independent financial inclusion administrations
Administrations to report to each bank’s chairperson or his deputy
After a year of NilePreneurs initiative, what accomplished so far?
‘We have necessary liquidity to realise youth’s ideas, dreams that contribute to achieving state’s, CBE’s goals,’ says Gamal Negm
CBE meets 266 defaulters to settle EGP 63.6bn worth debts
Negm said in a statement on Wednesday that the total debts of these clients amount to about EGP 63.6bn, pointing out that these defaulters will be exempted from part of their original debts and interests with a value of about EGP 17.4bn.
Egypt’s gold reserves record $164m increase in February
Country’s net international reserves reach $45.51bn in February, compared to January’s $45.457bn: CBE
CBE to issue EGP 212.5bn worth T-Bills, Bonds in 3Q20
16 T-Bills bids worth EGP 175bn, 10 T-Bonds bids worth EGP 37.5bn to be issued this month
Total financial position of banks in Egypt increases to EGP 5.856trn at 2019 end: CBE
Bank deposits increase to EGP 4.2359trn, household sector denominated 81.3%
Foreign investments in Egyptian T-bills increase by EGP 35.1bn by end of January 2020: CBE
Net foreign assets of the Egyptian banking sector rose by EGP 46.7bn in six months
HC expects CBE to keep interest rates unchanged in upcoming meeting
Chief economist and banking analyst at HC, Monette Doss said, “Despite this, we expect the CBE to keep interest rates unchanged during its upcoming meeting before resuming monetary easing in its April meeting. Our expectation is based on (1) the drop in Egypt’s foreign currency deposits not included in net international reserves (NIR) to $4.41bn in January from $7.57bn in December going below its 2-year low of $5.20bn in January 2019
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
CBE reveals why Egypt’s inflation increased in January
CBE said that monthly core inflation recorded 0.7% in January 2020 from 0.4% in January 2019, annual core inflation increased to 2.7% in January 2020
Local, international investors offer to invest $1.054bn in Egyptian T-Bills
The CBE rejected other offers from investors who requested an interest of 4.10%.
Egypt’s awaited banking law to revolutionise sector: Khodeir Partners co-founder
Khodeir’s comments came during a roundtable discussion held to tackle the banking draft law and its role in enhancing Egypt’s economic development.
CBE offers $900m in T-bills on Monday
Proceeds to cover a previous bid floated on 12 February 2019 worth $1.0141bn
Household sector’s trend towards deposits of three-year term or more ongoing since 2018
Weighted return on new deposits declines in September 2019 to 11.5%, 16% on loans
Egypt’s net foreign reserves increase to $45.456bn January-end: CBE
The January’s figure is the highest in the history of Egypt and it covers more than eight months of commodity imports.
Renewing SME initiative for another 4 years: CBE’s Amer
Banks pumped EGP 160bn to finance 86,000 small, medium enterprises
Remittances up to $2.3bn in October: CBE
Remittances increased to $9bn in July-October 2019
Egypt’s trade exchange reaches $23bn in 3 months: CBE
Volume of trade exchange between Egypt and its most important trading partners amounted to $14.15bn, equivalent to 60% of the total trade exchange
Capital flows return to emerging markets in September after August exit: CBE
Direction of capital movement remains dependent on future outlook of economic activity growth rates, development of global trade tensions
Foreign investments in Egypt’s T-Bills rise to EGP 254.30bn December 2019
Increase of total outstanding balances of T-Bills to EGP 1.512trn 2019-end
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
Egypt’s domestic debt falls to EGP 4.186tn; external debt up to $109.3bn Sept. 2019: CBE
External debt service reaches $2.9bn, including $1.7bn in instalments, $1.2bn in interest
Egypt’s external debt up 17.3% YoY to $108.7bn in FY19
External debt-to-GDP ratio 36% in Egypt, 48.5% in Latin America, 47.5% in Middle East
MPC holds first meet in 2020 on Thursday
CBE to hold 9 MPC meetings this year
HC expects CBE to cut rates in upcoming meeting
Economist and banking analyst for HC, Monette Doss said, “Annual December inflation accelerated to current levels due to unfavorable base effect, while monthly inflation declined for the second consecutive month driven by decreasing food prices as the government continues to make efforts avoiding possible supply shocks and ensuring the availability of basic food items at reduced prices
CBE supports tourism with three initiatives
Tourism is a major and important pillar for the national economy: CBE
CBE reveals Monetary Policy Committee formation led by Tarek Amer
Committee membership includes Negm, Aboul Naga, Omran, El Araby, and El Ahwany
CBE receives 38 bids to invest $966.9m in T-Bill auction
Growing value of gold reserves pushes FX reserves to its highest level at 2019-end
Economy Plus poll forecasts currency appreciation, lower interest rates, price cuts across consumer goods
Appreciation of currency, lower interest rates, price cuts across consumer goods, and stability of fuel costs
2019 paved road for promising real estate sector in new year
Moreover, the most prominent issues the market faced last year was liquidity and low purchasing power. Real estate stakeholders expect that it will be one of the challenges that will face the market in the new year due to high prices of services with fixed wages.