Latest in Tag: CBE Highlight
Latest in Tag: CBE
CBE expected to keep interest rates on hold Thursday
NBE, Banque Misr decision to halt 15% certificates and reduction of NIB A and B certificate returns unlikely to affect MPC decision
Bank profits reach EGP 50.049bn in June: CBE
Total financial position of banks working in Egyptian market rises to EGP 6.408trn
CBE extends fees waiver on ATM cash withdrawals, bank transfers to year-end
CBE to bear EGP 50m of pension withdrawal expenses until 2020-end
Banks explore repayment options of deferred loan instalments during COVID-19
Complete inventory is being undertaken of clients benefiting from CBE loan deferral initiative
CBE directs banks to take appropriate measures on deferred loan instalments
Each bank must conduct careful review of existing credit facilities, and their customers’ future cash flows, to determine appropriate measures in this matter
Egypt’s net international reserves grow $51m in August to $38.366bn: CBE
Suez Canal revenues, tourism, exports, foreign investments, and remittances are most important resources for Egypt’s foreign currency reserves
Egypt’s external debt decreases to $111.3bn in March 2020: CBE
Bank deposits up by EGP 84.837bn, loans rise by EGP 42.409bn
CBE receives 35 offers to invest €705.3m in local T-bill auction
Thirty offers have been accepted at value of €605.3m
CBE reveals reasons behind July inflation decline
Annual headline urban inflation declines to 4.2% in July, from 5.6% in June 2020
CBE expected to hold interest rates during next MPC meeting
Market anticipates CBE announcement, on Monday, regarding inflation in July 2020
CBE allows banks to acquire uncapped stakes in payment companies
Banks to provide full data on the company to which they are contributing more than 5% of issued capital
Egypt’s net international reserves grow $113m in July to $38.315bn: CBE
Egypt’s international reserves consist of foreign currencies, gold, special drawing rights (SDR), and net IMF loans. The FX reserves support the local currency, whilst fulfilling the country’s overseas obligations, and guaranteeing Egypt’s imports of basic commodities for several months.
Egypt’s local bank deposits increase to EGP 3.268trn in June: CBE
The CBE added that demand deposits recorded about EGP 482bn, of which about EGP 192.22bn was by the household sector, and about EGP 31.3bn for the public sector. The private sector accounted for about EGP 258.5bn of the whole figure.
Egypt to offer 26 T-bills, bonds tenders worth EGP 185.25bn in August
Auctions part of government plan to borrow EGP 600bn from local market in Q1 of FY 2020/2021
Egypt’s account deficit declines 39.2% in Q1 of 2020
The improvement comes despite the uncertainty in the global economy which has resulted from the spread of the novel coronavirus (COVID-19) pandemic.
New facilities to remove levy on taxpayers’ bank accounts: CBE
This is applicable on natural or legal persons regardless of their activity. Moreover, the door for appeals will be opened to taxpayers again.
Private sector holds 61.7% of total bank loans in April: CBE
Total deposits see 14.33% growth in April, compared to 13.9% in March; foreign currencies share fell to 17.01%
Financial position of banks in Egypt up to EGP 6.421trn in April: CBE
Total deposits up by EGP 92.4bn, total loans rise by EGP 91.9bn
CBE allowed to practice central depository, registration of government securities
New law opens door for privatisation of central depository and registration process
Egypt’s net international reserves up $2.2bn in June to $38.201bn: CBE
Egypt’s international reserves consist of foreign currencies, gold, special drawing rights (SDR), and net IMF loans. The FX reserves support the local currency, whilst fulfilling the country’s overseas obligations, and guaranteeing Egypt’s imports of basic commodities for several months.
CBE provides EGP 69bn in facilities to support industry, agriculture, contracting sectors
5 industries, including F&B and plastics, acquired 60%, or EGP 41bn, of total used balances granted under initiative, says source
Egypt’s MSME financing records EGP 181bn since January 2016: CBE
MSME initiative was launched by the CBE in January 2016. It has achieved a record volume in facilities and loans granted by the end of March 2020.
CBE amends tourism worker support initiative
The article includes the payment of salaries for tourism sector workers for a period of three months starting in May 2020. The client must provide proof that salaries due in May have not already been paid.
Aman, NBE cooperate to deploy 25,000 POS as part of CBE initiative
The cooperation comes as part of the Central Bank of Egypt (CBE) initiative to stimulate e-payments in Egypt, rather than cash exchanges. This is in line with the Egyptian state’s economic vision to achieve sustainable development and transition to a cashless society.
CBE provides EGP 7bn guarantee for corporate financing
Initiative aims to benefit clients of industrial, agricultural, and contracting private sectors whose annual work volume/revenues amount to EGP 200m or more
CBE confirms financial soundness of banks operating in Egypt
Banking sector’s financial position reaches EGP 6.165trn, capital adequacy ratio increases to 18.6% in March 2020
CBE offers EGP 15bn worth T-Bills on Thursday
The first tranche of the T-Bills will be offered through 182-day notes valued at EGP 7.5bn, while the second tranche stands at EGP 7.5bn and will be offered through 364-day notes, the CBE said on its official website.
CBE reviews interest rate amid expectations to remain unchanged
No strong prospects for inflationary pressures off of rising electricity prices or repercussions from exchange rate, says banking expert
CBE extends EGP 100bn initiative to new medium-sized enterprises
The initiative was set up to provide loans at a decreasing interest rate of 8% to private sector companies in Egypt’s industrial, agricultural and contracting sectors.
Financial position of banks in Egypt up EGP 648.9bn in 1Q-3Q FY2020: CBE
Net foreign assets decline by EGP 171.5bn in March, foreign investments in Egyptian T-Bills decrease by EGP 37.819bn in Apri