Latest in Tag: CBE Highlight
Latest in Tag: CBE
CBE prints EGP 200m worth of EGP 1, EGP 0.5 banknotes
The bank said in a statement on Thursday that it has printed EGP 100m of EGP 1 banknotes and EGP 100m of EGP 0.5 banknotes
Largest 10 banks acquired 72.11% of total deposits until September 2016: CBE
The share of the largest five banks of total deposits reaches 58.9%; government banks are at the top
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%
Government borrows EGP 1.121tn through bills, bonds during 2016
Ministry of Finance intends to borrow EGP 299.019bn from banks in Q1 FY2017
Net foreign exchange reserves increase to $24.265bn: CBE
This means that the CBE has neared its target of foreign exchange reserves estimated at $25bn
CBE extends tourism sector support initiative until February 2018
The bank also decided to extend the retail loans initiative for employees of the sector until the end of June 2017
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 …
MFF aims to spend EGP 10bn from CBE’s initiative by end of June: Abdel Hameed
The volume of the initiative’s financing increased from EGP 154m in 2014 to EGP 3.5bn in 2016
Remittances from Egyptians abroad increase by 33.2% in 1 month, amount to $1.7bn in November: CBE
Banks received $3.9373bn over three months
CBE dismisses rumours of Tarek Amer’s resignation
Amer will willingly complete his four-year constitutional term
Finance Minister signs cooperation protocol with CBE
An electronic system for financial transactions will help implement the ministry’s plans, says El-Garhy
CBE cancels meeting with representatives of investor associations
Amer refuses attendance of legal advisor to the associations
Uncertainty clouds future of interest rate on Egyptian pound
The Monetary Policy Committee will hold its last meeting in 2016 on Thursday to review the prices of basic earnings at the CBE
CBE’s new mobile banking regulation will create new business opportunities for Egyptian banks: Moody’s
There are significant growth opportunities for mobile banking in Egypt
US dollar prices at banks vary considerably on Wednesday, official price drops by EGP 0.06
The dollar value is expected to drop as companies finalise their budgets
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
US dollar surpasses EGP 19 at CBE to hit highest rates since flotation
The US dollar price at the Central Bank of Egypt (CBE) and banks operating in Egypt surpassed EGP 19, registering its highest level since the flotation of the Egyptian pound on 3 November. The price at the CBE on Monday recorded EGP 18.8088 for buying and EGP 19.1157 for selling, up from EGP 18.3246 and …
Lack of investment opportunities straining Egyptian banks
The liquidity of the pound has increased by EGP 64bn since the flotation; however, limited investment opportunities have hampered the growth of banks
US dollar registers new peak, jumps to EGP 19 at HSBC
The US dollar price jumped against the Egyptian pound to register its highest level ever at the Central Bank of Egypt (CBE) and banks operating in the domestic market on Wednesday. The official price of the US dollar against the Egyptian pound, according to the CBE’s transactions on Wednesday, registered EGP 18.4507 for buying and …
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
Local and international organisations propose investing $1.31bn in treasury bills
Local and international organisations proposed investing $1.31bn in a treasury bills tender posed by the Central Bank of Egypt (CBE) on behalf of the Ministry of Finance on Monday. The CBE accepted $1.1185bn of the liquidity offered to it, with an interest rate ranging between 3.66-3.72%—an average of 3.718%, versus 3.749% average interest posed in …
US dollar exceeds EGP 18 at CBE for first time since flotation
Analysts play down impact of recent terrorist events on future of the exchange rate
CBE signs 18bn yuan bilateral currency swap agreement with Chinese central bank
The agreement will lead to a decline in demand on the dollar and an improvement in the balance of payments, says Youssef
Egypt’s foreign exchange reserves likely to decline by $3bn in mid-December
On 17 December, Egypt must pay $3bn for bonds issued on global markets in 2013
Foreign exchange reserves increase by $4bn to reach $23bn as of end of November
The Central Bank of Egypt (CBE) announced that its foreign exchange reserves increased by $4.01bn as of the end of November 2016, up from $19.04 to register $23.06bn at the end of October. According to a note released by the CBE on Monday, the size of its foreign currencies at the end of November rose …
Industry Ministry, CBE seek provision of soft loans for industrial companies
Committee to be formed to determine mechanisms and procedures of providing funding and ensuring ability of companies to repay, says minister
18 million people require microfinance in Egypt: former CBE governor
We need about EGP 54bn to finance 3.6 million families living below the poverty line
SMEs acquire 10% of HDB’s loan portfolio until September 2016: chairperson
The bank aims to increase the funding of such projects to 20% by the end of the four-year period, set by the CBE, said Fathy El-Sebai
Trade exchange between Egypt and outside world falls to $75bn in FY 2015/2016: CBE
Imports decline by $4.99bn, exports down by $3.54bn
CashU to negotiate with CBE for new package of payment solutions next year
40,000 users of CashU in Egypt, 2.3 million across the Arab world