IDB signs protocol with Port Said governorate to finance industrial units in South Raswa
54 clients would benefit from this protocol to provide them with the necessary financing for their factories, says IDB chairperson
Hossam Mounir
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Outstanding balances of T-bills, bonds reach EGP 1.97tn end-July
T-Bills balances reached EGP 1.203tn, T-Bonds at EGP 766.36bn, in addition to international bonds of $23.21bn, €4bn, says Finance Ministry
Nine private banks in Egypt gain EGP 14.941bn net profits in 1H2019
CIB – Egypt tops the list by EGP 5.355bn profits, QNB Alahli comes second by EGP 4.217bn
July’s Inflation reading heralds interest rates cut at CBE’s next meeting: Beltone
Inflation continued to slow in July despite subsidy reforms influenced by its reading in the comparative period and its low reading in June
Strong growth in Al Baraka Bank Egypt’s financial position supported by ample funding potential: Beltone
Beltone added that the bank’s operating expenditure increased by 11.1%, maintaining the cost to income ratio at 23.1%, while credit impairment losses showed a healthy decline of 47%, which led to a decrease in the cost of risk by 173 basis points to 148 points.
CBE issues import, export standards on foreign banknotes surplus
The CBE affirmed that these standards comes in the framework of the CBE’s continuous endeavour to maintain the sound performance of the banking system.
Egypt’s net foreign reserves rose by $565m to $44.916bn end-July
According to the CBE, Egypt’s current net foreign reserves covers more than 8 months of commodity imports.
EALB, Egyptian Banks Company sign protocol to issue Meeza card
Bank aims to expand in retail banking, attract new customer segments, says EALB chairperson
CONIA interest rate benchmark comes into force
New standard reinforces CBE’s ability to improve monetary policy
Microfinance balances increase to EGP 13.79bn end-June: FRA
Funding increased by EGP 4.04bn in a year, clients up 14.1%
Banks operating in Egypt celebrate International Youth Day
New accounts opened free of charge, special offers made on 1-15 August
CBE reveals Egypt’s economy external position
Foreign debt reached 35.1% of GDP at end December 2018, compared to 61.4% of GDP in European coutnries, EMs, and 41.9% in Commonwealth countries
Egypt’s external debt reaches 35.1% of GDP at end-2018, but still within safe limits: CBE
Saudi Arabia is Egypt’s top lender with total debt of $8.7bn
Nasser Social Bank achieves unprecedented profits of over EGP 1bn end-June
Bank profits grow 47% year-over-year, says Farouk
NSB to receive underwriting offers for ATAA Charity Fund by August
New fund receives EGP 80m from Tahya Misr Fund, EGP 20m from Ministry of Endowments
MSMEDA injects EGP 260m to finance 35 development projects in Cairo, Giza
Since its inception, agency has provided EGP 6.4bn worth grants to implement labour-intensive projects
Meeza card users reach 1 million: EBC
Egypt seeks to be regional hub in financial technology industry, says managing director
Tamweely to start business in National Postal Authority’s branches early October
Company plans to open 7 Branches in Beni Suef, Minya, Sohag, Qena to reach 35 branches
Egypt Hosts Annual Workshop in field of money laundering, terrorism funding
Hosting this workshop confirms state’s keenness on supporting efforts to face challenges in Middle East, Africa: CBE
New role, form for ABE in coming period: ElKosayer
Bank embarked on comprehensive restructuring, development process based on extensive support received from CBE
NBE holds 29% of deposits, 21.2% of retail loans in Egyptian banking sector
Bank achieved 17% growth in deposits to EGP 1.186bn end-June 2019, retail loans to EGP 73bn, says Aboul Fotouh
Outstanding balance of T-Bills exceeds EGP 1.201tn end-June: Finance Ministry
T-Bills due between July 2019 and June 2020
NBE finances first phase of Roxy hydraulic parking garage by EGP 162m
Transportation projects among NBE’s top funded sectors, says NBE’s Sherif Riad
Faisal Islamic Bank of Egypt registers EGP 1.376bn in profits in H1of 2019
Total assets of bank increased to EGP 97.289bn end-June, up from EGP 85.902bn in June 2018
Bank deposit growth slows to 11.46% in April from 11.85% in March
DNE sheds light on key performance indicators of banks operating in local market in April 2019
I-Score to sign cooperation protocol with Ministry of Justice to provide bankruptcy data
Company signed cooperation protocol with ITDA to automate commercial register customers bank query
Banque Misr opens 2 BDS centres in Sadat, Damietta cities
New centres’ locations selected as per Egypt’s investment opportunities map
NBE’s mortgage finance portfolio exceeds EGP 7bn end-June
CBE’s initiative beneficiaries reach 68,000 this June, up from 38,000 in June 2018, says Okasha
NBE SME’s portfolio reaches EGP 65bn end-June
Bank opens 1st specialised centres in business development services in Al-Yasmeen branch
Banks’ credit facilities see EGP 242.6bn rise in 10 months: CBE
Deposits up by EGP 1bn only as non-governmental deposits drop