Latest in Tag: CBE Highlight
Latest in Tag: CBE
Deepening effective reforms critical to underpin Egypt’s positive economic outlook: IMF
Deepening and broadening of Egypt’s effective reforms is critical to underpin the positive outlook for growth and unemployment of the country, David Lipton, the International Monetary Fund (IMF) Acting Managing Director
Bank deposit growth slows to 11.46% in April from 11.85% in March
DNE sheds light on key performance indicators of banks operating in local market in April 2019
EBRD, CBE discuss offering new banking products for Egypt’s private sector
Locally operating banks receive 25% of EBRD funding portfolio in Egypt, says EBRD’s VP for Banking
Banks’ credit facilities see EGP 242.6bn rise in 10 months: CBE
Deposits up by EGP 1bn only as non-governmental deposits drop
Government debt to GDP in Egypt declines to 91% in Q1 of 2019 y-o-y: IIF
The state’s household debt to the GDP slightly decreased to 7.2% in Q1 of 2019, compared to 7.4% in the same period of 2018, the report added.
Foreign investments in Egyptian T-bills up by EGP 10.8bn in May 2019
Foreign investment in T-Bills reached about $11bn before 25 January 2011, but fell to less than $25m as of 2016.
Capital re-flows into EMs starting Q1 of 2019, 11 months after fleeing: CBE
Direction of capital flows depends on outlook for economic activity rate of growth, development of global trade tensions
Rate cut essential to support growth, reduce debt service burden: Beltone
Research note affirms strong expectations of interest rate cut by 100 bps in September or November
Net consolidated profits of QNB end of June 2019 reach EGP 4.217bn
Bank accounts for 7.82% of loans, 5.17% of deposits in Egyptian banks by end-March 2019
CBE to discuss interest rates on Thursday
Expected rise in inflation means CBE likely to keep interest rates unchanged for 3rd time in 2019
Beltone expects CBE to keep interest unchanged
Investment bank expects inflation to temper at 13.3% in Q3 of 2019
CBE launches service for instant bank account inquiry of deceased customers
Bank signs agreement to discuss situation of vehicles purchased by credit facilities
Gold in FX reserves up by $69m in June 2019
FX reserves increased to $44.352bn end of May: CBE
HC expects CBE’s MPC to keep interest rates unchanged
New electricity, fuel prices will hike monthly inflation: Saada
BOP overall deficit records $351.2m in July/March of FY 2018/19
The CBE revealed that the current account deficit registered $7.6bn and the capital and financial account unfolded a net inflow of $7.8bn in the reporting period.
CBE launches risk insurance company for exports to Africa before year-end
El-Shaarawy told Daily News Egypt that the bank is currently completing the regulatory and structural framework of the company, determining shareholders’ stakes, and the CBE’s contribution in the company.
CBE confirms strength of banks’ financial positions by end of 1st quarter of this year
The CBE noted that banks secured provisions of 98% of total NPLs at the end of March 2019. The ratio reached 100% at the 10 and five largest banks.
Banks operating in Egypt post net profit of EGP 39.29bn end-March
Top 5 banks denominate 74.48% of profits, top 10 account for EGP 33.32bn of profits, says CBE
Banks’ credit facilities see EGP 226.6bn rise end of March, deposits up to EGP 3.930tn: CBE
Private enterprise sector denominates 60.8% of total facilities, with industry in lead, according to CBE
Seamless NA 2019: MerQ among top 5 emerging companies specialised in FinTech
MerQ’s participation comes within the framework of supporting the state’s strategy and the Central Bank of Egypt (CBE) to spread awareness of financial inclusion
Bank Audi has yet to apply for CBE approval to acquire NBG-Egypt: Helal
In May, Bank Audi signed the final acquisition contract of the NBG-Egypt, however sealing the deal currently depends on the approval of both the CBE and Banque Du Liban, the central bank of Lebanon
Amer: 30-40% of Banque du Caire shares to be floated by October 2019
CBE receives 3 bids for United Bank, awaiting new offers
CBE regulates banks transactions with technical payment aggregator, facilitators
Boards of directors shall ensure banks’ plans match reliance on these companies, analyze risk associated with these services
CBE selects its historic building in downtown Cairo as the headquarters of FinTech Hub
Bank is launching its FinTech Hub, begins pilot phase in June
Total of 43 foreign, domestic investors offer to invest $970.6m in Egyptian T-Bills
CBE accepts 24 offers worth $715m with 3.85-3.88% interest
New Era for Egypt: Ban on cryptocurrencies to be lifted
Egypt’s ban of cryptocurrencies is due to be lifted, meaning companies that have the appropriate license from the Central Bank of Egypt (CBE) will soon be able to trade in cryptocurrency without fear of breaking any religious laws.
CBE’s mortgage finance interest rate projected to reach 8-12%
The Egyptian Real Estate Council proposed to set an interest rate of 8-12% on mortgage finance for middle-income housing units
CBE allocates EGP 50bn for mortgage finance for middle-income people
A mini committee was formed including representatives of the CBE, banks operating in the Egyptian market, and real estate developers to discuss mechanism of the rules of facilitating mortgage finance.
Al-Sisi appoints Fakhry Elfiky as CBE’s board member
Elfiky has a 35-year international experience in the fields of economic and financial consulting, training, scientific research, and applied studies in Egypt, Arab countries, and the United States.
New Banking Law prohibits establishment or operation of platforms for issuing, circulating e-currencies without license
Law grants CBE’s board right to issue regulation, circulation, dealing rules with such types of currencies, money