Latest in Tag: CBE Highlight
Latest in Tag: CBE
Egypt sees remittances grow to $29.6bn in 2020: CBE
Increase of $529.2m in such transfers recorded from October to December 2020
CBE reveals developments in commodity prices during February 2021
Annual food inflation remained broadly stable at -0.5% for second consecutive month
Financial position of banks in Egypt approaches EGP 7trn in October 2020: CBE
Banks’ total capital reaches EGP 174.592bn, reserves EGP 314.082bn, provisions to nonperforming loans record EGP 154.853bn
CBE leads entrepreneurship in Egypt with NilePreneurs initiative
Despite challenges, Egypt is striving to create comprehensive national innovation system
Egypt launches foreign exchange trading with instant settlement system on 22 March
New system shortens time frame to execute payments in foreign currencies between banks in Egypt, reduces costs
Egypt’s foreign debt rises to $125.3bn in September 2020: CBE
Net foreign assets increase by EGP 125.9bn within four months
Egypt’s net international reserves increase to $40.2bn in February: CBE
FX reserves increase by about $363m to $35.905bn in February
Net foreign assets in Egypt banking sector up EGP 10.7bn in January: CBE
EGP 32.73bn increase in local currency deposits, foreign currency deposits rise to equivalent of about EGP 649.65bn
CBE leads banking sector’s major role in supporting Egypt’s digital transformation efforts
Bankers, experts forecast e-payments will grow significantly in coming period
Banks to inject EGP 117bn into MSMEs until 2022 end: CBE
Banks in Egypt required to increase financing to MSMEs to 25% of credit facilities portfolio
Bank NPLs ratio in Egypt declines to 3.4% in September 2020: CBE
Banks set aside allocations to counter doubtful debts amounting to EGP 152.999bn
CBE-hosted FinTech Innovation sprint launched to address COVID-19 challenges
Innovation sprint in line with Egypt’s FinTech strategy, promotes entrepreneurs and startup cooperation with financial institutions to address COVID-19 challenges
CBE amends provisions of tourism initiative guaranteed by Finance Ministry
New amendment stipulates that initiative would end after exhausting amount allocated or by June 2021, whichever is closer
CBE reveals commodity prices’ movements in January 2021
Vegetable prices fell by 23.6% for second consecutive month
Central Bank of Egypt reveals market performance indicators in September 2020
Customer deposits break EGP 5trn mark for first time in local market
CBE offers 1-year T-bills bid worth $980m on Monday
Proceeds of bid are used to pay for value of previous bid put forward on 11 February 2020
Environment Minister, CBE Head discuss financing waste to energy industry
Meeting came as 1st phase of projects begin with investment of $325-390m
Central Bank of Egypt to review interest rates for 1st time in 2021 on Thursday
In its last meeting for 2020, Bank decided to maintain deposit and lending rates at 8.25% and 9.25%, respectively
Net foreign assets in banking sector rise EGP 20.991bn in December 2020
Household sector added EGP 643.108bn in local currency deposits during 2020
Egypt records 5% average headline urban inflation in 2020: CBE
Real GDP growth records -1.7% in Q2 of 2020, before recovering to 0.7% during Q3 of 2020
Egypt’s annual urban headline inflation declines to 5.4% in December 2020: CBE
Subsequent inflation target has been set at average of 7% (±2%) during Q4 of 2022, as announced in December 2020
Central Bank halts cash dividends at banks in anticipation of continued pandemic
Banks will not make cash dividends from profits or retained earnings to shareholders in anticipation of potential risks associated with pandemic
Egypt’s central bank allocates EGP 15bn to finance dual-fuel vehicle conversions
According to the central bank imitative loan period ranges from seven to 10 years, with the repayment to be made in equal monthly instalments
High solvency, liquidity enable Egypt banking sector to function successfully amid COVID-19: Central Bank
Banking sector has witnessed high financial stability in past years, allowing it to deal with many crises, contain their repercussions
Portfolio investment flows to EMs to recover slowly in 2021: CBE
Egyptian economy contained reversal in portfolio investment flows thanks to its relatively stable foreign currency sources and large net foreign reserve
Egypt’s central bank leaves interest rates on hold
Central Bank of Egypt new inflation target has been set at 7% (±2%) on average in the fourth quarter of 2022
Egyptian banking sector achieves EGP 45.549bn net profits in September
Top 10 banks in the Egyptian banking sector account for 65.5% of profits, top 5 banks account for 46.1%
Central Bank of Egypt to hold 8 monetary policy meetings in 2021
CBE to discuss future interest rates of Egyptian pound next Thursday
Financial position of banks in Egypt increases to EGP 6.676trn in August 2020: CBE
Volume of bank deposits records EGP 4.9trn, with credit facilities reaching EGP 2.269trn, of which 59.6% for private sector
Strong FX reserves, structural reforms support Egypt against external shocks: CBE
Aboul Naga’s comments came during the opening session of the Payment, FinTech, and Digital Inclusion Forum and Exhibition (Pafix) on Monday.