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Expansion brings bank’s total number of ATMs to 286 across the country
International finance company will, however, keep institutional client business
Bank meeting with consultancy firm to consider supporting Suez Canal Corridor projects, bank’s Egypt Director
Bank provides loans worth EGP 1bn to microenterprises, says Mounir El-Zahed
Tier 1 capital, a core measure of a bank’s financial strength, of National Bank of Egypt and CIB fell to reach the 404th and the 535th position respectively
Country was fourth largest contributor to Top 500 companies in the Arab World’s list, Forbes Middle East indicated
Bank aims to raise its retail banking portfolio in FY 2014/2015 as part of policy to increase retail customers to 5 million over next five years
Agreement aids in addressing critical market demand for trade finance in Africa, the bank says
Reuters – Egyptian investment firm Pioneers Holding posted a 37% increase in net profits for last year, it said in a bourse statement on Wednesday. Pioneers made EGP 358m ($51m) in 2013 compared with EGP 260.5m in the previous year, it said. The firm, which specialises in brokerage services, said earlier this year it planned …
Reuters – Saudi Arabian conglomerate Ahmad Hamad Algosaibi& Brothers has called a meeting of creditor banks in Dubai on 7 May to discuss a proposed settlement of billions of dollars of unpaid debt, commercial bankers said on Monday. The 2009 collapse of Algosaibi’s Bahrain unit, The International Banking Corp, and Awal Bank, owned by Maan …
Moody’s cited “banks’ high and increasing exposure to Caa1-rated Egyptian government debt”, which ties the system’s solvency to sovereign default risk.
S&P value total Islamic banking assets in Egypt at around $11.6bn
The report added that total non-government deposits rose during November to reach around EGP 1.115tn, compared to EGP 1.09tn in the previous month.
Reuters – Investment banking fees in the Middle East grew 20% last year, data compiled by Thomson Reuters showed, as capital markets activity continued to recover gradually from the global financial crisis. Total fees rose to $722m in 2013, the highest since 2010, from $603m in 2012 – though they were still only about half …
Rectifying these mistakes costs banks and their customers both time and money and highlights the rapidly increasing compliance costs which lenders in the Middle East and Africa must deal with.
The library covers banking history in Egypt from the early 20th until present day, also providing context of Egyptian history in general.
CIB tops the list as the largest bank in Egypt followed by NSGB, the fastest growing bank in the country
This service is provided to bank clients and non-clients alike, at the 200 ATMs dispersed throughout the country, which operate 24 hours a day, 7 days a week.
Business is proceeding as normal within banks, he said, adding that strict security measures had been taken at bank entrances and exits, in order to prevent acts of theft and robbery from taking place at various branches.
By Muhammad Zubair Mughal Apparently, it is a matter of pleasure that global volume of Islamic finance industry has crossed $1.3tn approximately, which is, definitely, providing the best and compatible sources of finance with interest free modes. According to a careful estimate, there are more than 2000 Islamic Financial Institutions offering Islamic Banking, Islamic Insurance …
Bank employees demonstrating to dismiss chairman
Blom Bank Egypt, the Arab Bank, NSGB and CIB among those negotiating with the electronic payment system company
Abdel Shakour: The scarcity of investment channels is the biggest challenge in the insurance market
Betting on their portfolio, Banque du Caire intends to increase car loans portfolio to 40%, CIB to spend EGP 150m by first quarter end
The Central Bank of Egypt (CBE) agreed to plans discussed last week to sell both BNP Paribas and National Société Générale Bank (NSGB)
The goal of the package is to create an environment conducive for Islamic banks to operate
The total number of money paid in salaries for public bank employees rose from EGP 1.5bn in 2003 to EGP 4.7bn in 2010
280 companies have been granted loans with updated registration requirements based on the standards of ITIDA
“Eurozone crisis aggravated by common monetary policy in Europe”
The Arab African International Bank presents new lending solutions that suit customers from different income brackets