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Enmaa needs financing worth EGP10m in the form of letters of guarantee for tenders
The interest rates increase on the higher deposits, depending on the segments set by the bank
Banque Misr may approve a limited increase of the interest rate on short-term savings funds
The three state-owned banks have begun offering these certificates in mid-March 2016
The CBE said in a recent report that the net profit of the banks operating in Egypt reached EGP 35.882bn as of the end of December 2015
Some tax haven countries come ahead of European and Gulf countries as top investors in Egypt, says former top tax official
Chairman of Banque Misr Mohamed El Atriby inaugurated the Dubai branch and the new regional headquarters for Banque Misr’s branches in the United Arab Emirates (UAE)
These branches will remain open until 5pm in the period from 27 to 31 March and from 24 to 28 April
Company will not borrow from banks currently, will participate in major national projects, says Hasanen
The bank provides 55% of the total funds granted by banks as part of the Mashrouak initiative
The bank’s net profit reached EGP 4.2bn in FY 2014/2015, compared to EGP 2.5bn in 2013/2014, with a 66.3% growth rate after paying EGP 3.616bn in taxes
The NBE and Banque Misr will issue the CDs beginning on Monday for a period of 60 days, according to El-Etreby
These certificates are similar to the ‘Belady’ dollar certificates that the three banks offered at the beginning of March.
The value of the loan has already entered the bank’s treasury
NBE, Banque Misr, Banque du Caire will offer three-year certificate to Egyptians living within the country and five-year certificate to those living in Europe
NBE, Banque Misr, Banque du Caire will offer three-year CD to Egyptians living within the country and five-year CD to those living in Europe
Minister of Immigration and Egyptian Expatriate Affairs Nabila Makram said that the bond certificate is a response to calls from Egyptians living abroad to have a high yield bond certificate that can also bolster Egypt’s economy
Certificate will be issued in dollars with three and five-year maturation periods and yields ranging between 3.5% – 5%
Banque Misr, the National Bank of Egypt (NBE), the Commercial International Bank (CIB), and the Banque du Caire have made respective in-kind donations of EGP 10m to the project that will be carried out in cooperation with Cairo Governorate
Banque Misr achieved net profits of EGP 2.51bn after taxes in FY 2013/2014, while the NBE achieved net profits of EGP 3.7bn in the same year
Deputy Minister of Housing and Vice Chairman of SECON Mohamed Essam El-Deen said the Egyptian government intends to support and develop the company’s investments and conduct its expansion plans
Global Finance is based in New York, and is the largest specialised financial publication in the world.
The loan is intended to strengthen the bank’s dollar resources to support it in financing strategic projects, as well as to bolster the country’s foreign exchange reserves.
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.
Bloomberg names the bank as best in promoting syndicated loans and funding projects in Africa
The new branch adds to the bank’s network of over 500 branches
The bank recorded an EGP 56bn increase in its financials in FY 2014/2015
Bank spends more than EGP 19.24bn annually on salaries, transferred by public and private sector companies
Loans will be granted to construction, shipping, electricity, and energy sectors, among others
The list of banks participating in this loan includes ABC-Bahrain, the National Bank of Dubai (NBD), Mashreq Bank, Union National Bank Egypt, and HSBC. Banque Misr has been negotiating with these banks since last June.