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Ratings agency Moody’s upgrades banking sector outlook from negative to stable
Net profits value from January to June 2015 stood at QAR 5.6bn ($1.5bn)
We target pumping EGP 650m in large companies sector, about EGP 350m in retail, and small and medium-sized projects sectors, says El-Kosayer
Banque Du Caire has launched new fund programmes, such as the used cars’ loan programme launched this month.
March’s figures compare to June 2014, where debt amounted to $46.1bn
Bank provided loan worth $90m to EEHC for emergency plan to solve electricity crisis in summer of 2015
Company registers EGP 81m during Q1 2015
The bank’s capital adequacy ratio stood at a strong level of 14.6%.
ALEXBank reported a 9.5% growth in net profit in 2014, registering EGP 724m, despite 5% increase in the enacted tax rate, the bank announced last week. The bank noted that actual pre-tax profits reached EGP 1.07bn, up 16.3% compared to 2013 results. The bank’s net income increased by 12.5% year-on-year to reach EGP 2.68bn, which …
Prime Minister suggests the formation of trilateral cooperation
Car loans from Banque du Caire is considered the fastest growing bank product in the Egyptian market, Zahid said
The total amount of National Bank of Egypt’s (NBE) loan portfolio has registered EGP 136bn, said Hisham Okasha, General Manager of NBE. Meanwhile, the net loan portfolio of the bank amounted to EGP 129bn, Okasha noted, adding that the current deposits portfolio EGP 405bn. NBE is currently setting a medium-term plan for geographical expansion, which …
Petroleum ministry aims to pay $2bn-3bn of foreign dues by year-end
Bank meeting with consultancy firm to consider supporting Suez Canal Corridor projects, bank’s Egypt Director
CBE governor Hisham Ramez will meet IMF managing director on Sunday
Daily News Egypt takes a closer look into the banking sector’s performance over the past fiscal year, with examples of the financial results of state-owned, private and Islamic banks
Investment will be accompanied by additional $20m loan from the CIB
By Abdel Razek Al-Shuwekhi The African Development Bank (ADB) is currently considering financing projects at the Ministry of Water and Irrigation worth $700m, according to a bank official. On 25 June, an official at the Ministry of International Cooperation said the ADB would finance the study at a value of €1.9m (just over $2.5m). The …
National Bank of Egypt planning to transform the country into a cashless society
Bank balances in March rose to EGP 559.444bn as compared to EGP 553.464bn in February and EGP 546.228bn in December of last year.
Agreement aids in addressing critical market demand for trade finance in Africa, the bank says
Egypt has received nearly monthly financial support from international institutions and countries over the past 10 months. The Daily News Egypt lists the financial packages received from such entities.
African Development Bank says it will continue providing assistance to Egyptian government in the form of loans and grants
United Arab Emirates praises recent Saudi decision to list the Brotherhood as a terrorist organisation
It is the biggest loan package Tunisia has received since the 2011 revolution that toppled autocratic president Zine El-Abidine Ben Ali.
The banking sector has been a source for filling financial gap of public authorities through granting them loans. Although experts stated that this initiative may be “politically motivated”, they stressed that banks always have reserves for loans.
PM Hazem El-Beblawi says negotiations are ongoing over whether IMF will recognise current government
Over the past 9 months, corporate loans increased EGP1.4bn at the Banque du Caire
The errors, which date back to October 2008, could spark refunds totalling up to £100m ($159m, 119m euros), according to The Times newspaper.
Officials stated that the two sectors were very different and that one could not compare the two.