Latest in Tag: CBE Highlight
Latest in Tag: CBE
Local, international financial institutions offer to invest $1.755bn in CBE’s T-bills
The CBE floated the $1.56bn worth T-bill tender for a year, due on 16 November 2021.
CBE to float $1.56bn Treasury bills
The proceeds of this issuance will be used to pay for the previous bid put forward by the CBE on 19 November 2019, through which it received $1.56bn.
Banks in Egypt discuss fate of interest rates following CBE’s cut
Yield of some savings certificates, loan products automatically decreases by 0.5%, while market awaits launch of first bids for T-bills, bonds
CBE expects inflation to average under 6% in Q4 2020
Interest rate cut currently provides adequate support for economic activity, consistent with achieving price stability in medium term: MPC
CBE to discuss fate of interest rate on Thursday
MPC meeting is shrouded in ambiguity regarding expected decision, as some analysts and experts expect interest to be cut while others predict it to be fixed
CBE receives 43 offers worth €888.3m for Euro-denominated T-bills
The CBE had launched a tender to sell €690m 364-day T-bills on 9 November 2021, to pay for older issuance worth €695m that was made in November 2019.
CBE to launch €690m worth T-bill tender on Monday
The proceeds of the issuance will be used to pay the value of a previous bid put forward by the CBE on 12 November 2019, amounting to €695m.
After 4 years, Egypt’s exchange rate liberalisation proves its economic boon
Egypt sees $400bn in foreign exchange flows since decision enforced in November 2016: Bank Official
Egypt’s net international reserves up $795m in October to $39.22bn: CBE
Egypt’s international reserves consist of foreign currencies (FX), gold, special drawing rights (SDR), and net IMF loans.
Net foreign assets of Egypt’s banking sector up EGP 51.958bn in September
This came in addition to the decrease in the volume of foreign liabilities, equivalent to about EGP 19.65bn. It reached the equivalent of about EGP 704.338bn in September, compared to the equivalent of about EGP 723.988bn in August.
Local-currency bank deposits increase EGP 88.589bn in September: CBE
In a recent report, the CBE stated that demand deposits in local currency amounted to about EGP 523.515bn in September, compared to EGP 507.804bn in August, an increase of EGP 15.711bn.
Egypt’s bank deposits increase to EGP 4.788trn in July 2020: CBE
Private businesses receive 59.8% of total bank facilities, with industry at forefront of sectors gaining most benefits
Egypt’s external debt rises to $123.49bn in June 2020: CBE
The country’s external debt in June 2020 also increased by 14.79% compared to June 2019 when it reached $108.7bn.
CIB awaits CBE audit report following chairperson’s resignation
Two audit firms to look into CBE report on CIB violations, should financial fraud allegations stick
Agricultural Bank of Egypt targets 30-million customer base over 5 years
Financing programme for needy families, rural women, and craftsmen to be launched soon
CBE provides full support to CIB to preserve its financial position, deposits
A CBE statement read, “The CBE approved the decision of the CIB’s Board of Directors to appoint Sherif Sami, a board member and former chairperson of the Financial Regulatory Authority, as a non-executive Chairperson, as of date.”
Financial position of banks in Egypt up EGP 96.9bn in July 2020: CBE
Volume of doubtful debts allocations amounts to EGP 150.877bn, reserves amount to EGP 214.349bn
EJB calls on CBE to accelerate digital transformation in Egypt’s financial sector
Makhlouf said that the academic curriculum in many Egyptian colleges should be developed, alongside a set of laws and legislations related to digital transformation. This would then ease the removal of all trade obstacles hindering entrepreneurs and small- and medium-sized enterprises (SMEs).
MSME financing increases EGP 201.7bn between December 2015, June 2020: CBE
Cairo received lion’s share of MSME financing at 31.4%, followed by Giza at 15.5%
90% of Egypt’s foreign debts are long-term: CBE
At 33.5% of GDP, debt levels are within safe limits compared to 48.7% in Latin America and Caribbean, 47.5% in Middle East, Central Asia
EMs see rising capital inflows since May 2020: CBE
Monetary, financial stimulus policies and structural reforms alleviate pandemic’s consequences on neediest segments, support post-pandemic economic recovery
Egypt’s annual core inflation hits 3.3% in September 2020: CBE
In a report released on Sunday, the CBE revealed that the monthly core consumer prices recorded a monthly rate of 0.1% in September 2020, against -0.2% in August 2020, and -2.3% in September 2019.
CBE establishes EgyCash for technological cash solutions
CBE contributes up to 35% of new company’s capital, while NBE, Banque Misr, and Banque du Caire own remaining share
CBE eases bank account opening procedures for individuals, small enterprises
New rules allow banks to expand customer base, help them implement financial inclusion plan, and integrate informal economy into formal one, bankers say
FX foreign currencies reserves up by $221m in September: CBE
The value of the gold balance included in the detailed data on reserve balances decreased by $159m to about $4.361bn during September 2020, compared to about $4.520bn in August.
CBE simplifies bank account opening for individuals, micro enterprises
The move took place in cooperation with the Egyptian Money Laundering and Terrorist Financing Combating Unit (EMLCU).
Local currency deposits with Egypt banks up EGP 80.104bn in August: CBE
In a recent report, the CBE stated that demand deposits in local currency also increased by EGP 18.829bn to EGP 507.804bn in August, compared to EGP 488.975bn in July.
Egypt’s market interest rates slightly decline despite CBE’s 0.5% cut
Returns on debt instruments also see minor decreases
Egypt reports $69.96bn in foreign trade during 9M of FY 2019/20: CBE
Country’s imports recorded $49.012bn, while exports reached $20.953bn in same period
CBE reveals bank performance indicators for H1 2020
Banking sector deposits rise to about EGP 4.7trn, financial position of banks jumps to EGP 6.408trn by end of June 2020