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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
Subscribers reach 13.5 million by end-June, with a total value of transactions of EGP 20bn as of September
Banks will begin Sunday to discuss the fate of interest on their CDs, deposits, and loans
Company sells about 70 kg of gold per month to CBE to increase reserves, says El-Raghy
This is the second interest cut in a row following the 150 basis point on 22 August, and the third in 2019.
MPC ecided at its meeting on 22 August 2019 to reduce the interest rate by 150 basis points for overnight lending, overnight deposit, and CBE’s main operation, to settle at 14.25%, 15.25%, and 14.75% respectively.
Inflationary pressures to ease dramatically following July’s subsidy lift, says Monette Doss
EFG Hermes’s Abu Basha foresees 0.5% cut, Pharos’ El-Swaify and Sigma expect 1.5%
Activities of Arab Financial Inclusion Day resulted in opening of 1m accounts in Egyptian banking sector within 4 years
Meetings discuss latest economic, financial, monetary developments, banking supervision, financial stability, inclusiveness, and modern financial technologies, according to AMF
Banks’ credit facilities see EGP 224.7bn rise, private business sector holds 60.7%
Domestic debt records 79% of GDP, of which 86.4% is owed by the government, 7.3% by public economic bodies and 6.3% by National Investment Bank
EFG Hermes, Pharos forecast 1-2% interest rate cut at next MPC meeting
‘We offer European expertise to MCIT for further elaboration of e-commerce Law,’ says Surkoš
Largest ten banks in Egypt hold more than 81% of credit and debit cards
Investors’ shift from T-Bills to T-Bonds reflects positive change in their macroeconomic outlook of Egypt
CBE’s decision to reduce interest rates reflects favourable inflationary trends, says Lall
Value of gold reserve rises by $265m, decrease in foreign currencies value by $135m
Budget deficit projected to decrease to 8.2%, 7.2% of GDP in FY 2018/19-2019/20, respectively
Government sources told Daily News Egypt that the decision was taken by the Minister of Finance, Mohamed Moeit, to unify procedures for all customs’ items.
Private sector accounts for 60.8% of total facilities, with industry in the lead, says CBE
The CBE said in a recent report that these debts include $21bn of interest on paid loans and $5bn of debt services.
“We must increase the issuance of an integrated plan for property export and coordination between all parties to promote this industry,” he explained.
Banks cut interest rates amid noticeable reservation so as not to affect their liquidity in local currency
Yield on T-bills on Sunday’s auction dropped by 0.75-1.5%
Government welcomes decision, investment banks forecast further cuts by end-2019, depositors are most affected,
Experts forecasts further cut before end-2019, debt instruments remain attractive
CBE slashed overnight deposit rate, lending rate, and the rate of main operation to 14.25%, 15.25%, and 14.75%, respectively.
Falling inflation and US interest paves the way for CBE to cut its core interest rates, say analysts
CBE set accepted yield minimum at 1.4%, maximum at 1.5%, average at 1.49%