Latest in Tag: National Bank of Egypt Highlight
Latest in Tag: National Bank of Egypt
Numerous public bank officials resign to protest maximum wage
New maximum wage sets wages at 50% less than original wages, resigned NBE official says
EGP 10.5bn to support budget deficit by Egyptian banks
NBE-led union collects loan worth $1.5bn to pay portion of the dues of foreign oil companies operating in Egypt
Government needs to reduce bureaucracy to lower costs, increase productivity: Investments head
El-Hatow: Real estate is king and energy requires a special kind of investor
NBE to fully automate risks management: Information Security director
Egyptian customers’ trust in banking technology will increase when the banks offer services with high security standards, Abeer Khedr says
Banking Technology Summit kicks off with banks focusing on consumer security
Demand growing for mobile banking and electronic wallets, says NBE
Tender to be offered for $1.5bn loan this November: El Molla
Ministry hopes to pay nearly $1bn of debts to foreign partners by year-end, says EGPC chairman
Investment ministry in EGP32bn asset-debt swap with National Bank of Egypt, Banque Misr
Meeting to be held soon regarding payment of outstanding EGP 1.6bn owed to banks, says minister
National Bank of Egypt hopes to open 200 new branches within 3 years
EGP 150m total savings for bank clients with platinum certificates
Minister of Trade and Industry reveals new initiatives to bolster Egyptian economy
Abdel Nour: Industrial developer annexations of land is indispensable
Government keen on supporting industry complexes, SMEs: Trade minister
The government is keen on giving a boost to all industry complexes nationwide as they involve many small and medium-sized enterprises (SMEs) that represent the larger slice of the Egyptian economy, Minister of Trade, Industry, and Small and Medium-sized Enterprises Mounir Fakhry Abdel Nour said. The minister said that his ministry has an ambitious plan …
NBE receives 800 applications for mortgage funding for low- and middle-income individuals
The Central Bank launched a mortgage financing initiative in April with EGP 10bn for mortgage financing activities. The funds could be used to finance housing for low- and medium-income individuals with concessionary terms for a period of 20 years.
NBE and Egyptian Gulf Bank to provide EGP 500m and 120m to Mobinil
Four banks participate in total of 1bn syndicated loan to Egyptian service provider
National Bank of Egypt, Banque du Caire, and Banque Misr increase returns on savings certificates
A number of government banks raise returns on savings certificates to attract liquidity, fight inflation, and increase individual returns
Hazem Hegazy, head of retail banking speaks to Daily News Egypt
National Bank of Egypt planning to transform the country into a cashless society
Mobile banking to boost credit card usage to 38%: Blom Bank Egypt official
The easy-payment service, offered by several banks in Egypt for nearly six months, allows customers to pay bills and make purchases via mobile phones. It also offers anti-theft protection and time saving benefits on making payments.
National Bank of Egypt raises retail banking portfolio to EGP 35bn: Head of sector
Bank aims to raise its retail banking portfolio in FY 2014/2015 as part of policy to increase retail customers to 5 million over next five years
Addressing bureaucracy, administrative corruption necessary for economic reform: Experts
Bureaucracy, complicated investment legislation, and administration corruption are the main stumbling blocks to economic reform, several heads of banks said during the People and Banks Conference last Wednesday. Participants in the conference discussed how to work to restore investor confidence in the Egyptian market in order to transform it into a magnet for Arab and …
Banking sector supporting demand for corporate lending: National Bank of Egypt president
Banking sector believes in growing demand for corporate lending as well as credit rating improvement for the country, says Hisham Okasha
Tourism, industrial sectors account for 75% of NBE’s non-performing loans: Bank official
The National Bank of Egypt’s non-performing loans total EGP 6bn, of which tourism accounts for 40%, industry 35% and other sectors 25%
CIB named ‘Bank of the Year’
HSBC dropped 13 places on the efficiency indicator as its profits declined, whereas Barclays took third place.
National Bank of Egypt adopts strategy to face market competition
The deputy chairman of NBE automated teller machines (ATMs) reached 1,750 by the end of April, adding that the bank is aiming to increase them by 500 new ones and exchange 400 old ones by the end of 2015.
Egyptian Gulf Bank gives EGP 300m to low-income housing project
The bank is one of several supporting the construction of 10,000 housing units for low- and middle-income Egyptians under a Central Bank of Egypt initiative
National Bank of Egypt signs $50m deal with European Bank for Reconstruction and Development
The agreement will help finance foreign trade operations
NBE and Telecom Egypt sign agreement for fiber-optics upgrade
The telecommunication company will be responsible for providing infrastructure for entiree network as well as securing all banking data.
S&P raises ratings on four Egyptian banks
Ratings agency upgrades long-term ratings on National Bank of Egypt, Banque Misr and Commercial International Bank to B- from CCC+, raises public information rating on NSGB.
NBE to defer EGP5bn in loan payment installments
The National Bank of Egypt (NBE) will defer EGP5bn of debt payment installments for clients operating in Egypt’s tourism sector
Political turmoil hits mobile money transfer market
Low rates of usage for the service were the result of political turmoil
Egypt’s banking sector is optimistic about change
Recent improvements seen in the stock market and decreases in the cost of insuring government debt have reflected positively on the feelings of those working and operating within the sector, who recently decided to decrease return rates on Treasury bonds by 1%
Costs of future government borrowing bogged down by uncertainty
Return rates on government debt tools have been steadily increasing since former president Mohamed Morsi’s constitutional declaration on 22 November 2012, a fact which has been compounded by repeated credit downgrades seen since the outbreak of the January 25th revolution by international rating agencies.
Fitch Group’s new credit downgrade of Egypt does not take into account recent aid received from the Gulf
The analysts stated that the recent downgrade would not have a large affect on Egypt’s banking sector, adding that the value of stock for some banks may decrease as a result, but only for one or two trading sessions at the most.