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Total deposits up by EGP 92.4bn, total loans rise by EGP 91.9bn
Daily News Egypt monitors profit decline of 12 banks out of 16 surveyed
NFA surplus with banks, CBE records about $5.3bn increase
IBAN used in international transfers, standard method for accurate identification of bank accounts
Net foreign assets decline by EGP 171.5bn in March, foreign investments in Egyptian T-Bills decrease by EGP 37.819bn in Apri
CBE figures also show decrease in surplus of net foreign assets for second consecutive month
Financial position of banks operating in local market touches EGP 6trn, deposits and loans rise
Top 5 banks account for 50.1% of sector’s total profits, top 10 achieve EGP 58.7bn profits
Banks make donations as follows, EGP 80m from NBE, EGP 40m from Banque du Caire, and EGP 20m from EBE
The government has announced an exceptional financial assistance for irregular workers affected by the ongoing coronavirus (Covid-19) outbreak and preventative measures.
Banks given 3 months to filter databases, 12,000 companies, 320,000 citizens benefit from decision
CBE stresses importance of using electronic payment channels to limit virus spread
CBE included microfinance sector in the initiative on Monday
CIB suspends all internal activities including gatherings in large numbers, limits training to online courses
CBE has signed an agreement with Nile University for a period of five years under the name “Nile Pioneers” aimed at developing, qualifying, and increasing the capabilities of young entrepreneurs in small and medium enterprises (SMEs).
CIB – Egypt ranks first with profits of EGP 11.8bn, QNB Alahli ranks second with profits of EGP 8.522bn
Growth of the real estate sector contributes to the continuous improvement of economic indicators: deputy governor
Expected exits, acquisitions, mergers, against Lebanese crisis, implementation of new banking law
Private business sector accounted for 59.2% of the total facilities, and the industrial sector is at the forefront of the sectors that benefit from it: CBE
Company plans to increase its remittance transactions to Egypt, says its vice president for Middle East, Africa and Pakistan region.
Service sector received EGP 62.2bn banking funds, while industrial sector got EGP 43.1bn
8 companies inject EGP 1.5bn, Taamir Mortgage tops with EGP 551.6m with 4,800 clients
Excluding credit portfolios purchased from micro finance companies or associations in 20% allocated to SMEs from loan portfolios at banks
Private sector receives 60.3% of total facilities, industry at the forefront of beneficiaries, says CBE
Most cuts were limited to variable return certificates
Credit rating agency expects Egypt’s GDP to grow 5.6% in 2019, additional rate cuts next year
Slight increase in non-performing loans at banks in 1H 2019, reaching 4.2% of total loan portfolio compared to 4.1% at end-March, says CBE
The CBE has instructed banks working in the local market to allocate 20% of their loan portfolios to finance SMEs. El-Etreby pointed out that NGOs were also included within this segment.
Reserves declined to EGP 236.06bn end-June, compared to EGP 238.89bn end-May
Banks’ credit facilities see EGP 224.7bn rise, private business sector holds 60.7%