Latest in Banking Highlight
Latest in Banking
Bank has made strong contribution to all CBE initiatives to support economy in these difficult times
The CBE will issue Treasury Bills and bonds worth EGP 186bn in May, as part of a government plan to borrow EGP 610bn between April and the end of June 2020.
It supports solutions and programmes to increase the working capital of the supply chain network whilst lower financing costs, speeding up operations, and providing lower risk.
We moved quickly to preserve economic gains since launch of national economic reform programme, says CBE
Significant increase, brings bank’s deposit portfolio to EGP 1.5trn
The Suez Canal Bank had owned a total of 560,000 shares, representing 1.27% of MIDOR’s capital.
Maintaining local currency attractive amid economic uncertainty due to Covid-19 crisis suggests keeping rates unchanged
Fayed also emphasised that Banque du Caire’s keenness to boost and diversify its foreign currency funding resources is directed at financing SMEs, which are a cornerstone in economic growth and sustainable development.
The CIB contribution will also be dispersed to the National Emergency and Crisis Fund, as part of efforts to combat the virus.
Financial position of banks operating in local market touches EGP 6trn, deposits and loans rise
Allowing self-registration for e-wallet services contributes to speeding up digital transformation of financial transactions
Bank honours all of its external obligations amounting to around $1.6bn
Hisham Okasha, Chairperson of NBE, said the arrangement of this loan comes in light of the participating banks’ strategies to provide necessary funds for energy projects in local and foreign currencies because of their importance in advancing development and supporting the Egyptian economy.
ROAE records 19.6%, ROA 2.5%, net profit decreases 9% y-o-y
25 offers worth $975.4m were accepted
Proceeds cover a previous tender, worth $1bn, offered in May 2019
EBI to launch ‘Future Leaders’ online training programme for African Central Bank on 4 May
Egypt’s banking sector has survived decline in foreign investments, reflecting economic stability
Bank Audi – Audi has informed the Ministry of Health of the situation, and highlighted that the adequacy and integrity of the procedures followed and taken by the bank were checked.
The NBE has also decided to increase the return on another 3-year Group B investment certificate. The certificate’s annual return was originally 12%, which has now risen to 12.5%, to be paid every three months.
Implications of coronavirus highlight importance of accelerating transition to digital financial services, says regional council
Bank profits reach EGP 83.184bn last December: CBE
The deal reflects our commitment to increasing trade between African countries, says Ezz Al Arab
Top 5 banks account for 50.1% of sector’s total profits, top 10 achieve EGP 58.7bn profits
Individuals can withdraw up to EGP 20,000 daily from ATMs, EGP 50,000 in banks, says FEB Chairperson
Bank sees significant e-banking services expansion during FY 2018/19
In March, the CBE issued regulations due to the coronavirus oubtreak allowing borrowers to defer paying instalments on bank loans for a period of six months.
ElKosayer held several meetings with the Agricultural Bank of Egypt, e-finance, and the Egyptian Banks Company to develop the procedures needed to carry out the digital transformation. This is expected to have a significant impact on the services provided via the Farmer’s Card and maximise its benefits.
Bank directs EGP 1bn of profits to capital rise
Issuance is part of a two-year EGP 2bn short-term securitisation programme