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While this decision has its advantages and disadvantages, it is the only solution for ending many problems and the government should support it
Raising interest was important to protect citizens’ savings and to face expected inflation, say bank leaders
During his meeting with Minister of Industry and Trade Tarek Kabil, President Abdel Fattah Al-Sisi emphasised the importance of small- and medium-sized enterprises (SMEs) and how these could improve Egypt’s economy. The president noted that banks should provide loans with low interest rates not exceeding 5%, as the Central Bank of Egypt (CBE) initiative stipulated. …
This sector’s deposits increased by EGP 8.849bn and EGP 2.729bn in foreign currencies
Private sector accounts for 59.8% of the credit facilities, while industry leads sectors backed by banks
The government and the CBE have made positive moves to support the economy and develop the investment environment, says El-Damati
Chief financial officers and heads of treasury sectors at banks (dealers) are facing the economic crisis more than anyone else. Thanks to the nature of their work, they realise what is happening in the global economies and the challenges facing them. In Egypt particularly, dealers play an important role in employing banks’ liquidity in local …
Banks are making great efforts to solve foreign currency shortage in Egypt
Some believe it is feasible while others claim it is fruitless
Private sector received 74.8% of total loans
Most loans in the banking sector worldwide are granted to the industrial sector, says Ezz El-Din Hassanein
The plan includes five pillars, the most important of which is the expansion in lending for huge projects and multi-national companies and focusing on financing SMEs, said Sherif
Switzerland has opened criminal proceedings against the BSI bank, linked to the ongoing case involving Malaysia’s troubled state investment fund. Singapore’s central bank has also shut down BSI’s operations.
Bank plans to increase its retail banking portfolio to EGP 1.4bn by end of 2016
The bulletin stated that the total equity at the bank amounted to EGP 33.5bn
With a simply trick, the Asian Development Bank will greatly increase its financial fire power. Is there a catch? Is the move a reaction to competition by China’s new development bank, asks Andreas Becker in Frankfurt.
Bank’s goals include increasing large and small branches network, presence in Upper Egypt, expanding in financing SMEs
Last month, hackers plundered the accounts of Bangladesh’s central bank, making off with $80 million. It was one of the biggest banking heists in history – and it would’ve been a lot bigger were it not for a simple typo.
Global Barclays Group decided to exit from the Egyptian market after about 150 years of presence as part of a plan developed by the group aims to sell some of its units in Africa and Europe
Banks also saw a EGP 2.3bn increase in loans during the same month
Limited banking operations mostly in public banks, in Sudan, Uganda, Ethiopia, Libya
US dollar projected to strengthen to EGP 9.5, leading formal and informal markets to bond
Shrinking bank investment in investment funds, lowering maximum level of loans’ amounts can be granted for one customer, directing them toward SMEs
The bank recorded a loans portfolio of $2.6bn for projects in Africa by the end of 2014
Clients’ loans in Barclays Egypt increased by EGP 1.8bn during the first nine months of 2015, from EGP 5.3bn in December 2014 to EGP 7.1bn in September 2015, a growth of 34%, according to Mohamed Sherif, member of the bank’s board of directors and director of the financial department. Barclays Egypt achieved an increase in …
Loans to be received in pounds and repaid in dollars; we are awaiting a reply within two days, says Tourism Investment Association head
Accepting cash deposits is a step to restore growth rates in Egyptian exports in various markets and sectors, says Qabil
According to CBE, the total deposits growth rate of banks in July was about 18.5%. The growth rate of deposits in EGP amounted to about 19.5%, while the growth rate of foreign currency was 14.1%.