Negm said in a statement on Wednesday that the total debts of these clients amount to about EGP 63.6bn, pointing out that these defaulters will be exempted from part of their original debts and interests with a value of about EGP 17.4bn.
Latest by Hossam Mounir
MSMEDA offers new facilities, advantages for industrial sector to support new Egyptian industrialists: Gamea
Country’s net international reserves reach $45.51bn in February, compared to January’s $45.457bn: CBE
The official price of the dollar at the Central Bank of Egypt (CBE) on Monday reached EGP 15.5856 for buying, and EGP 15.7149 for selling, compared to EGP 15.4784 pounds for buying, and EGP 15.6071 for selling on 23 February.
16 T-Bills bids worth EGP 175bn, 10 T-Bonds bids worth EGP 37.5bn to be issued this month
Bank deposits increase to EGP 4.2359trn, household sector denominated 81.3%
Net foreign assets of the Egyptian banking sector rose by EGP 46.7bn in six months
The signing ceremony was attended by Chairperson of NBE Hesham Okasha, Chairperson and CEO of Fiber Misr Ahmed Mekky, Deputy Chairperson of NBE Yehia Aboul Fotouh, Deputy Chairperson of Fiber Misr Sherif Nabih, and Head of NBE’s Credit Group for Corporate and Syndicated Loans Sherif Riad
Project’s total cost is EGP 580m, NBE contributes 75% over 7 years
Firm sees 200 bps interest rate cut, EGP to slightly depreciate to EGP 16.26 vs USD in 2020
Deposits up by EGP 5.5bn, loans increase by EGP 1.9bn in one year
Bank launches Business Club Academy in cooperation with EBRD, EBI
CIB – Egypt ranks first with profits of EGP 11.8bn, QNB Alahli ranks second with profits of EGP 8.522bn
Partnership contract between Crédit Agricole Egypt and the Egyptian Shooting Club renewed for next ten years
Deposits up to EGP 151bn, loans EGP 79.2bn; SMEs portfolio grows by 146%
Chief economist and banking analyst at HC, Monette Doss said, “Despite this, we expect the CBE to keep interest rates unchanged during its upcoming meeting before resuming monetary easing in its April meeting. Our expectation is based on (1) the drop in Egypt’s foreign currency deposits not included in net international reserves (NIR) to $4.41bn in January from $7.57bn in December going below its 2-year low of $5.20bn in January 2019
Growth of the real estate sector contributes to the continuous improvement of economic indicators: deputy governor
The bank’s total assets increased by about EGP 3.057bn to reach about EGP 50.501bn by end of December
CBE said that monthly core inflation recorded 0.7% in January 2020 from 0.4% in January 2019, annual core inflation increased to 2.7% in January 2020
Expected exits, acquisitions, mergers, against Lebanese crisis, implementation of new banking law
Bank grants 11,000 customers EGP 1.2bn within mortgage financing initiative
Bank expects inflation to continue declining to single digits this year
Banque Misr received $2bn in January, $15.6bn in 2019: El-Etreby
The CBE rejected other offers from investors who requested an interest of 4.10%.
The rise was supported by increase in prices of meat, poultry, and vegetables on monthly basis
Khodeir’s comments came during a roundtable discussion held to tackle the banking draft law and its role in enhancing Egypt’s economic development.
20% of the total cost of implementing a housing compound project in the beach area of New Alamein City
Proceeds to cover a previous bid floated on 12 February 2019 worth $1.0141bn
Weighted return on new deposits declines in September 2019 to 11.5%, 16% on loans
The January’s figure is the highest in the history of Egypt and it covers more than eight months of commodity imports.