The deal reflects our commitment to increasing trade between African countries, says Ezz Al Arab
Latest by Hossam Mounir
Bank profits reached EGP 83.184bn at end of December: CBE
The law also put in place flexible, new and updated mechanisms to facilitate the provision of financing for these projects and expand the provision of financial and non-financial incentives for the, as well as the development of simplified and flexible systems for permanent tax treatment.
Top 5 banks account for 50.1% of sector’s total profits, top 10 achieve EGP 58.7bn profits
Individuals can withdraw up to EGP 20,000 daily from ATMs, EGP 50,000 in banks, says FEB Chairperson
New certificates will have annual 15.5% yield from date of issuance
Bank sees significant e-banking services expansion during FY 2018/19
In March, the CBE issued regulations due to the coronavirus oubtreak allowing borrowers to defer paying instalments on bank loans for a period of six months.
Bank directs EGP 1bn of profits to capital rise
Bank is providing EGP 20m in aid to support 1,500 families
Fayed said that all the bank’s initiatives since the crisis began have been to support state and medical sector efforts tackling the coronavirus.
saib acted as bookrunner and agent of the deal, while the National Bank of Egypt participated as a bookrunner and financing promoter, and the Suez Canal Bank also served as bookrunner.
Bank concludes 6 financing deals of total EGP 15.4bn
Banks make donations as follows, EGP 80m from NBE, EGP 40m from Banque du Caire, and EGP 20m from EBE
Policies issued in cooperation with Misr Life Insurance
As for the annual inflation, it fell to 4.6% in March, compared to 4.9% in the preceding month, and 13.8% in March 2019.
Bank directs $5.4bn to cover local hard currency needs, bridge gap from foreign investment decline
Agency offers soft loans up to EGP 1m to support small-sized enterprises: Gamea
Banks given 3 months to filter databases, 12,000 companies, 320,000 citizens benefit from decision
Company is championing efforts to increase contactless payment limits across MEA region
Fayed added that full sterilisation operations are currently being implemented for the main headquarters’ offices and departments. A medical examination will be performed on all workers who were in contact with the positive case, and samples will be taken with the recommendation of social isolation.
The bank’s total finances increased to EGP 1.6trn in June 2019, compared to EGP 1.5trn in June 2018. Equity amounted to about EGP 110bn in 2019, compared to EGP 92.2bn in the year before.
CBE stresses importance of using electronic payment channels to limit virus spread
Bank’s consolidated net after-tax profits reach record high of EGP 2.2bn in 2019
The CBE said this step comes in light of global developments and the consequent movement to preserve the Egyptian economy’s gains since the launch of the national economic reform programme. It is also to preserve the proactive steps the CBE takes in exceptional circumstances.
Bank donations divided into four segments according to 2019 profits
Egypt’s monetary stimulus to support economic recovery and ease coronavirus impacts
Issuing EGP 522bn T-bills, EGP 88bn bonds between April-June: Finance Ministry
MPC will consider market conditions, impact of emergency rate cut, inflation trend at Thursday meeting
Agency to pump new funds for activities currently booming due to spread of coronavirus