Latest in Tag: NBE Highlight
Latest in Tag: NBE
NBE and e-finance contract with 14 public universities to collect students’ tuition fees electronically: Abu ElFotouh
205,000 students are using prepaid cards in order to achieve financial inclusion and to reduce cash dealings in markets, says Hegazy
NBE, Banque Misr, CIB offer EGP 1.148bn worth of securitisation bonds for Corplease
The National Bank of Egypt (NBE), Banque Misr, and the Commercial International Bank (CIB)—as managers of placement, promoters, and underwriters—have issued and covered a new batch of securitisation bonds for Corplease Financial Leasing at a total value of EGP 1.148bn on four segments with different maturity periods ranging between 1-7 years. The NBE’s share in …
Banque Misr, NBE receive definitive judicial ruling against head of Dreamland Group
Banque Misr and the National Bank of Egypt (NBE) said they obtained definitive judicial rulings to sell most of Dreamland’s assets, which is owned by Ahmed Bahgat, as well as other rulings obligating Bahgat, as head of Dreamland Group, to pay EGP 600m to both banks. In a press release on Monday, the banks accused …
I expect a major breakthrough for the economy and banking activity in H2 of 2017: Abu ElFotouh
NBE has SMEs, industry, exports as top priority in 2017
NBE finances imports worth $4.3bn for public, private sectors since pound flotation
NBE’s proceeds reached $2.2bn since 3 November 2016, while savings certificates with 16-20% of interest collected more than $182bn, according to NBE vice president Abu ElFotouh
NBE, IDA to finance projects under ‘Your factory is ready’ initiative
Total SMEs portfolio in the NBE reached EGP 28.4bn and serves 51,600 projects, says Montasser
NBE provides $800m for imports following pound flotation
Fluctuations in the US dollar exchange rate are normal initially and will not last long, says Okasha
NBE saving certificates with 16%, 20% interest collect EGP 92bn
NBE offered $600m for imports since the flotation of the pound, says vice president
NBE receives EGP 15bn in new deposits in fortnight: chairperson
Banque Misr collected $400m during the first two weeks of the flotation, says deputy chairperson
NBE provides EGP 27bn to 51,000 small, medium, micro-enterprises by end of October: chairperson
NBE provided EGP 5.2bn to more than 7,000 projects in 9 months as part of CBE initiative
NBE, Misr Life Insurance sign cooperation protocol to benefit from e-payment tools
In light of the National Bank of Egypt’s (NBE) interest in improving the services it offers its customers to facilitate banking transactions and maintain leadership in providing electronic banking services updates, Hazem Hegazy, NBE CEO for retail banking and small- and medium–sized enterprises signed a corporation protocol with Ahmed Abdel Aziz, chairperson of Misr Life …
Egyptian remittances at Banque Misr, NBE, Banque du Caire increase to as high as 35%
Leaders of the National Bank of Egypt and Banque Misr revealed that 30% of the remittances sent by Egyptians abroad to banks now remain in Egyptian banks compared to the previous 1%. There has been an upwards trend in these rates since the flotation of the Egyptian pound last Thursday. Vice chairperson of the National …
US dollar exchange rate stable on 1st day of Egyptian pound’s complete flotation
Sunday marks the first day of the Egyptian pound’s complete flotation in the top five banks operating in the market, following the Central Bank of Egypt’s (CBE) decision to liberalise the exchange rate on Thursday.
NBE, Banque Misr raise limits on card usage abroad
Vice chairperson of the National Bank of Egypt (NBE) Yehia Aboul Fotouh said that the bank will raise the limit previously imposed on its cards for usage abroad on Sunday. He added that the bank also approved selling $300 to travellers who are not clients, whereas travellers who have had accounts at the bank for …
Industry and Trade Ministry signs 3 cooperation protocols with NBE, ECHEM to support SMEs
Minister of Industry and Trade Tarek Kabil signed three cooperation protocols with the aim of providing facilitated financing packages and raw materials to small- and medium-sized enterprises (SMEs) in the two cities of Al-Robeky for leather, and Merghem for plastic industries. The minister said that an integrated industrial zone for leather was established with the …
NBE allocates €500m for financing private sector projects: chairperson
The bank has provided loans worth EGP 24.6bn for SMEs, with more than 47,000 projects having benefited, says Okasha
NBE reduces foreign exchange cash limit for travelling customers
The bank provides cash for foreign exchange only on condition of reviewing customers’ travel documents
NBE aims to increase SMEs loan portfolio to 70bn in 4 years
The National Bank of Egypt (NBE) aims to increase the size of loans granted to small- and medium–sized enterprises to EGP 70bn over four years, according to the bank’s CEO Hazem Hegazy. Hegazy said that NBE began funding SMEs in 2010, noting that the current size of loans granted to these projects amounts to EGP …
NBE prepares to launch international bonds worth $600m in international markets
Industrial sector acquires 18% of SMEs’ loans; NBE targets to double them
NBE arranges 2 loans worth EGP 20bn for power projects, infrastructure
Loans portfolio expected to increase in size during current FY, bank vice president
NBE donates EGP 50m to Zewail City of Science and Technology
Chairperson of the National Bank of Egypt (NBE) Hisham Okasha said that the bank’s board of directors agreed on donating EGP 50m to the Tahya Misr Fund – Zewail City of Science and Technology. The fund is specialised in receiving donations to complete establishing the biggest project that supports scientific and technological research in Egypt …
NBE finances 47,000 SMEs with EGP 28bn as of end of June
Bank aims to increase volume of provided SME funds to EGP 72bn over next 4 years, says Okasha
NBE gives SUMED $100m to finance project for the trading and storage of petroleum products
The loan will also finance the launch of a quay in Ain Sokhna
NBE raises interest rate by 1% on savings accounts, 0.75% on deposits
Banque Misr may approve a limited increase of the interest rate on short-term savings funds
NBE secures EGP 30m of loans for Taba and Nuweiba resorts: member of Nuweiba-Taba Investors Association
NBE secures EGP 30m of loans for Taba and Nuweiba resorts: member of Nuweiba-Taba Investors Association
NBE signs EGP 1.98bn loan with Alexandria National Refine and Petrochemical
The loan is earmarked to establish a naphtha and continuous catalyst regeneration unit with a capacity of 850,000 tonnes per year
NBE finances purchase of 8,600 low- and middle-income housing units with EGP 700m
Hegazy attributed the bank’s success in being able to finance its large number of clients to its ongoing cooperation with concerned parties, such as the CBE and the Mortgage Finance Fund (MFF), in addition to covering all geographic areas in Egypt
NBE postpones paying 4 instalments of Arabian Cement Company worth $8m until April 2017
A report by Beltone Financial Investment Banking stated that the profits of the company were higher than the original expectations of EGP 536m. The 10% higher prices in the fourth quarter of 2015 contributed to making up for the falling sales volume.
NBE aims to increase size of SMEs portfolio by 20% by end of next June: deputy chairperson
The bank follows a special philosophy in dealing with these enterprises based on sustainable development and focusing on quality along with quantity
NBE bank of the year, EGB is the fastest growing, Bank of Alexandria the most efficient: Business News
CIB tops the serving individuals index, and HDB is the highest spending bank on social responsibility