Company accounts for about 90% of ATMs in Egypt, says Africa Managing Director
Latest by Hossam Mounir
EGP 3.8bn in individual loans from bank throughout September 2015, with an aim to increase this figure by 30% this year, says head of Retail Banking
The bank offers more than 40 different retail banking products, with more to come
Bank is reconsidering investment policies and will open 12 new branches to focus on developing the Suez Canal area, says Abdel Hamid
Retail loans constitute 58% of the total loans portfolio in the bank, says Assistant Managing Director
CIB puts simple conditions on opening accounts for youth to attract them to the banking sector
Banks request CBE not to impose these regulations on all customers and to divide them in categories based on income
Greater reliance on technology alongside declining role of traditional branches
The MoU was signed with the collaboration of the Egyptian Ministry of Foreign Affairs and the Egyptian Ambassador in Kinshasa, Democratic Republic of Congo.
This springs from the bank’s commitment to promoting economic development and contributing to the development of society by fighting unemployment, increasing the gross domestic product (GDP), and achieving sustainable development.
It is necessary to overcome all obstacles facing construction companies to support the Egyptian construction revolution, says Daker Abdallah
The bank acquired 7.82% of the total loans provided by the Egyptian banking system, and 5.68% of total deposits
CIB-Egypt targets attracting more customers through e-services
Shrinking bank investment in investment funds, lowering maximum level of loans’ amounts can be granted for one customer, directing them toward SMEs
CBE prohibits Egyptian banks from offering retail loans with monthly instalments that exceed 35% of a debtor’s net income
The bills’ interest rate saw a 40 points increase compared to CBE’s last auction in December
Redistributing branches gives the bank a better chance to serve the Egyptian economy
Companies with annual revenues between EGP 1m and EGP 20m will receive a declining interest rate of 5% on loans
The list of accredited consulting firms at CBE includes 81 institutions, among which there are only two banks; the Housing and Development Bank (HDB) and IDBE.
Foreign reserves are facing major challenges by the beginning of 2016; repaying installments of foreign debts, covering local demand for dollars
The CBE awaits the first portion of the loan agreed upon with the World Bank, which will be worth $1bn, to support the foreign exchange reserves
During its extraordinary meeting, council will review programme to support economy that was agreed upon between government and CBE on 17 December
The bank is set to sign a loan agreement with the EBRD to be directed to small and medium projects, says Deputy Chairman
Electricity sector accounted for EGP 30.8bn; 14.8bn for petroleum; 9.45bn for construction; EGP 7.8bn for transportation
The Monetary Policy Committee (MPC) meeting took three hours Thursday and ended without reaching a decision regarding the interest rates on EGP
The General Assembly of the United Bank, which was held at the headquarters of the Central Bank of Egypt (CBE) a few days ago, decided to give the current board of directors an additional three month tenure that expires 31 March. The mandate of the current board had expired on Thursday 31 December, 2015. The …
CBE’s international foreign reserves increase by $23m at the end of December
Plus Leasing has allocated EGP 30m to achieve this goal during 2016.
Sources suggest a 3-month renewal
Regulatory actions taken by CBE s capable of protecting Egyptian banking sector from risks during 2016, says report