Latest in Tag: CBE Highlight
Latest in Tag: CBE
$1.12bn offered for investment in T-bills
CBE received 33 offers, accepted 29 worth $1.09bn, with an interest average of 3.62%
NBE injected EGP 7.5bn to finance 9,200 SMEs in first year of CBE’s initiative to support these projects
77% of SMEs obtained loans to expand its existing activities and 23% to newly established projects
CBE initiative set to rescue 50% of hotels nationwide
Initiative will consider promoting local industry by requiring 65% reliance on domestic products in replacement and renewal
Egyptian economy is gaining momentum: Bank of America Merrill Lynch
With the trade in Egyptian Treasury bills (T-bills) gaining ground, the witnessed drop in T-bill yields at auctions is an indication of the increasing foreign investor participation and is providing support to the USD/EGP trade with a better tone, according to Bank of America Merrill Lynch’s February insight report. The report cites the unofficial announcement …
Strong expectations to keep interest rate unchanged during CBE’s MPC on Thursday, despite inflation hikes
Raising interest rates will not curb inflation caused by flotation and shortage, say analysts
Analysts expect EGX to move sideways awaiting CBE’s decision on interest
Bourse awaits Banque du Caire placement, following approval to list its EGP 2.25bn capital
The initiative contributes to providing new funding opportunities for adding deposits in banks: El-Baradei
CBE initiative to finance low- to middle-income housing is a large starting point for the mortgage market in Egypt, says executive director of Egyptian Banking Institute
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
Export Development Bank to increase small and midsize enterprises portfolio to EGP 5bn in 2019
The mortgage portfolio of the bank amounts to EGP 10m, and we aim to increase it to EGP 50m by late June 2017, says El-Menshawy
Dollar falls to its lowest level in two months, settles below EGP 18
Banks see clients disposing USD, further decline in the pipeline, says chairperson of Banque Misr
Usage of cards abroad dropped by 55% following flotation: CBE
Egyptians usage of cards abroad dropped by a value of $223m in November and December 2016, following the Central Bank of Egypt (CBE) decision to float the national currency—a drop of 55% compared to the same months in 2015. In a press release on Tuesday, CBE stated that data from banks indicate that payments via …
Net foreign purchases of T-bills jump to $1.15bn in January
Foreign investments in debt instruments is one of the most important sources of international financing for emerging and developed economies: CBE
$4.5bn net inflows received by CBE in January 2017: official
Difficult reforms have been taken already, no intention to raise field prices in the current FY
CBE launches initiative to renovate floating hotels and tourism fleets with EGP 5bn, 10% interest
The Central Bank of Egypt (CBE) launched an initiative to subsidise the renovation of hotels, floating hotels, and tourism fleets. Through the initiative, banks will secure EGP 5bn with an interest rate of 10%, extending over a maximum period of 10 years, according to the credit study conducted on each client separately. In a press …
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
Egyptian remittances amount to $4.6bn in Q4 2016: CBE
Total remittances sent home from Egyptians working abroad rose during the period between October and December 2016 by about $500m, reaching $4.6bn; compared to $4.1bn during the same period in 2015—a growth of 11.8%, according to the Central Bank of Egypt (CBE). Remittances from abroad are considered one of the most important resources for foreign …
Gold value increases to $2.45bn in foreign exchange reserves by late January 2017
A report published by the CBE on Sunday revealed that foreign exchange reserves increased to $26.363bn by the end of January 2017, compared to $24.265bn in December 2016
International reserves reach $26.363bn in January, increase by $2.1bn
The Central Bank of Egypt has announced on Sunday that Egypt’s international reserves reached $26.363bn in January, marking an increase of almost $2.1bn from December 2016’s value of $24.265bn. Since 2011, Egypt’s foreign currency reserves have been constantly drained at unsustainable rates to prevent currency devaluation. By October 2016, foreign reserves had dropped to $19bn …
IDWBE negotiates with international companies to reform administrative structure
I assumed chairmanship of the bank in April 2016 with deferred losses of EGP 1.5bn and a supportive loan of EGP 2.5bn from CBE, says Fahmy
Bank loans increased by EGP11bn during October
Non-governmental loans recorded EGP 786.4bn in October
Foreign investments in treasury bills hike to EGP 7.8bn during November
Private banks’ investments in treasury bills increased by EGP 10.90bn during November
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
14 banks finance 62,000 housing units with EGP 5bn within CBE initiative: Abdel Hameed
Head of the Mortgage Finance Fund Mai Abdel Hameed said that 14 banks pumped EGP 5bn into financing 62,000 housing units within the framework of the initiative by the Central Bank of Egypt (CBE) launched in February 2014 to finance the low- and middle-income housing. She added that the fund provided EGP 1.1bn of cash …
Economic reform programme was a necessity, Egypt reached point of no return mid-2016: Abou El Oyoun
It was either reform or the halt of serving loans and an end to economic life
Parliament demands CBE provide detailed report on Egypt’s foreign debt, repayment schedule
CBE governor said IMF estimates value of Egyptian pound at EGP 11-11.5 after flotation, says El-Moselhy
The reason behind the rise of Egypt’s foreign currency reserves remains unknown
Since the 25 January Revolution in 2011, Egypt’s foreign currency reserves were used to support Egypt’s important imports at a time that witnessed a lack of inflow of foreign currencies. It was also used to support the Egyptian pound against the US dollar to postpone the effect of the low demand on the Egyptian pound. …
CBE pumps EGP 2.5bn into United Bank’s capital
Supporting the bank’s capital is meant to support its ability to expand in various sectors and expand its role as a prelude to selling it
Food commodity price hikes push inflation to its highest since 2005: CBE
Recent CBE reports explain inflation hitting 25% at end of December 2016
CBE to meet 8 times in 2017 to determine future of Egyptian pound’s interest rate
Direction of interest rate depends on inflation and government strategy, say analysts
Repatriation of profits for foreign investors to resume soon: CBE governor
The banking system was able to secure inflows of $7.5-8bn since the flotation of the Egyptian pound