Latest in Highlight
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EBRD, CBE discuss offering new banking products for Egypt’s private sector
Locally operating banks receive 25% of EBRD funding portfolio in Egypt, says EBRD’s VP for Banking
Beltone’s outlook for banking sector remains positive despite recent regulatory reforms
New banking draft law negatively affects dividends of small capital banks, slight impact of IFRS 9 on capital
Foreign investment in Egyptian T-Bills rises to EGP 265.6bn end of April 2019
Investments of banks operating in local market in government debt instruments amount to EGP 680.882bn
Prime Holding offers to acquire 100% of Pharos Securities, investment banking, bookkeeping arms
The proposed acquisition aims to increase the market share of Prime Holding in the Egyptian market to compensate for the low transaction values in the Egyptian market, Prime Holding Vice Chairperson, Mohamed Maher, told Daily News Egypt
Banks’ credit facilities see EGP 226.6bn rise end of March, deposits up to EGP 3.930tn: CBE
Private enterprise sector denominates 60.8% of total facilities, with industry in lead, according to CBE
HC Research expects Egypt’s inflation to reach 14.2% in FY 2019, 12.4% in FY 2020
CBE may resume interest rate cuts in Q4 of 2019, with a total of 5% over 2 years, says Saada
Attijariwafa Bank Egypt launches 1st business development centre of Nile Pioneers Initiative
New centre confirms effective contribution of banking sector in supporting government, CBE to encourage SMEs, says Helal
ABE supports CBE’s push towards e-payments by issuing Meeza cards: ElKoseir
Maximum balance of card is EGP 1,000, maximum monthly use is EGP 50,000
Seffa appointed Managing Director of Attijariwafa bank-Egypt, Sakr nominated as Chairperson
Seffa is leading figure who enjoys long history, experience within Group, appointing him ensures pursuing our strategic objectives in Egyptian market: El Kettani
EGP 399bn total corporate finance portfolio, syndicated loans at NBE end of April 2019
Bank arranged 17 syndicated loans in 2018 worth EGP 90bn, won 15 international awards in this field
IDB continues expansion plan with opening of new branch downtown Cairo
Ambitious plan, to support national economy, Egyptian industry in reaching world: Fahmy
Bank Audi has yet to apply for CBE approval to acquire NBG-Egypt: Helal
In May, Bank Audi signed the final acquisition contract of the NBG-Egypt, however sealing the deal currently depends on the approval of both the CBE and Banque Du Liban, the central bank of Lebanon
Net profit of Banque du Caire reaches EGP 1.218bn in Q1 of 2019
Good results always push us to continue development, says Fayed
Amer: 30-40% of Banque du Caire shares to be floated by October 2019
CBE receives 3 bids for United Bank, awaiting new offers
Masary targets doubling POS to reach 150,000 POS end 2020, has 30% market share: Chairperson, CEO
FinTech forefront of financial inclusion in Egypt, we aim to process 2m transaction daily end 2019, says Nagy
Fawry considers entering field of IPO payment in EGX offerings through company’s outlets next year
We have achieved great success in funding traders who previously contracted with Fawry, we plan to expand this: Okasha
CBE regulates banks transactions with technical payment aggregator, facilitators
Boards of directors shall ensure banks’ plans match reliance on these companies, analyze risk associated with these services
Bank Audi-Egypt adds ‘Meeza’ card features on its debit, credit cards
Bank Audi- Egypt aims to support development of electronic payment system in Egypt by reducing dependency on cash, in addition to promoting financial inclusion: Bedeir
Faisal Islamic Bank of Egypt assets reach EGP 95.86bn by end of May
The bank’s total assets stood at EGP 95.86bn, up from EGP 84.44bn at the end of May 2018, rising by 13.5%.
IDB’s mortgage finance portfolio up to EGP 1bn for 10,000 clients
Bank signs cooperation protocol with MFF for allocation, sale of 488 housing units in Beheira, Borg El Arab
CIB’s Extraordinary General Assembly approves authorised capital increase to EGP 50bn
Assembly grants board of directors right to establish branches, agencies, offices in Egypt, abroad, including Sinai Peninsula
CBE selects its historic building in downtown Cairo as the headquarters of FinTech Hub
Bank is launching its FinTech Hub, begins pilot phase in June
Total of 43 foreign, domestic investors offer to invest $970.6m in Egyptian T-Bills
CBE accepts 24 offers worth $715m with 3.85-3.88% interest
US dollar value continues decline against EGP in banks on Monday
The US dollar lost two piasters in the Egyptian National Bank and the Suez Canal Bank, recording EGP 16.71 for buying and EGP 16.81 for sale
Number of 13 banks score EGP 8.48bn in net profits in 1Q19
CIB ranks 1st with profits of EGP 2.64bn, QNB AlAhli follows, Faisal Islamic Bank in 3rd
UNB Egypt boasts 83% increase in profits in Q1 2019
Bank aims to increase growth rates in coming period due to its optimistic outlook on Egyptian economy
CBE governor, communications minister discuss expanding banking services in villages
Amer witnesses signing cooperation protocol to train workers of banking sector in fields of information security, data analysis, financial technology, AI
Bedeir confirmed success of negotiations to acquire Egyptian banking operations, branches of the National Bank of Greece in Egypt
Final approval by CBE is condition for transaction success
Egyptian banking sector ranks 4th in terms of assets in Arab region: UAB
NBE ranked eighth among largest Arab banks with assets worth $75.6bn
Egypt’s banking customer base “weak”, it’s not good timing for cryptocurrencies: CIB
Mohamed Farag, head of International Transactions and Digital Banking at the Commercial International Bank (CIB), described Egypt’s banking customer base as “weak”, with only 14 million customers. He explained that the country should have at least 60 million banking customers, and this low current figure is related to the banking service costs, especially in rural …