Latest in Banking Highlight
Latest in Banking
Suez Canal Bank sells stake in MIDOR for $30.6m
The Suez Canal Bank had owned a total of 560,000 shares, representing 1.27% of MIDOR’s capital.
CBE’s Monetary Policy Committee convenes to decide on interest rates
Maintaining local currency attractive amid economic uncertainty due to Covid-19 crisis suggests keeping rates unchanged
Banque du Caire, EIB sign $100m loan agreement to finance SMEs
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.
CIB commits $7m to test kits, support families impacted by COVID-19
The CIB contribution will also be dispersed to the National Emergency and Crisis Fund, as part of efforts to combat the virus.
CBE reveals February 2020 data for banks operating in Egypt
Financial position of banks operating in local market touches EGP 6trn, deposits and loans rise
Digital banking on the rise owning to coronavirus push
Allowing self-registration for e-wallet services contributes to speeding up digital transformation of financial transactions
Egypt’s NIR decline to $37bn in April: CBE
Bank honours all of its external obligations amounting to around $1.6bn
NBE leads banking consortium to provide €30m syndicated loan to MidElec
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.
CIB net income down 9% to EGP 2.4bn in 1Q 2020
ROAE records 19.6%, ROA 2.5%, net profit decreases 9% y-o-y
CBE receives 31 bids to invest $1.095bn in T-Bill auction
25 offers worth $975.4m were accepted
CBE offers $800m in 1-year treasury bills on Monday
Proceeds cover a previous tender, worth $1bn, offered in May 2019
Transition to online learning part of EBI vision before Covid-19 crisis: Abdel Aziz Nossier
EBI to launch ‘Future Leaders’ online training programme for African Central Bank on 4 May
Central banks lose over $175bn of FX reserves due to COVID-19
Egypt’s banking sector has survived decline in foreign investments, reflecting economic stability
Bank Audi – Egypt announces positive COVID-19 case at administrative building
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.
NBE issues new investment certificates, raises return on another
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.
Arab central banks council highlights digital transformation on Financial Inclusion Day
Implications of coronavirus highlight importance of accelerating transition to digital financial services, says regional council
CBE highlights financial soundness indicators of local banking sector
Bank profits reach EGP 83.184bn last December: CBE
CIB acquires 51% of Kenya’s Bank Mayfair in $35.35m deal
The deal reflects our commitment to increasing trade between African countries, says Ezz Al Arab
Egypt’s banks report EGP 83.18bn net profits in 2019: CBE
Top 5 banks account for 50.1% of sector’s total profits, top 10 achieve EGP 58.7bn profits
Daily cash withdrawal, deposit limits for individuals amended during Ramadan
Individuals can withdraw up to EGP 20,000 daily from ATMs, EGP 50,000 in banks, says FEB Chairperson
NBE raises authorised capital to EGP 100bn, paid-up capital to EGP 50bn
Bank sees significant e-banking services expansion during FY 2018/19
CBE issues new controls on loan instalment postponement
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.
Government prepares for linking Farmer’s Card with Meeza e-payment services
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.
BLOM Bank Egypt increases capital to EGP 3bn
Bank directs EGP 1bn of profits to capital rise
Premium Card closes largest short-term securitisation transaction for EGP 172m
Issuance is part of a two-year EGP 2bn short-term securitisation programme
HDB join efforts to support those affected by COVID-19
Bank is providing EGP 20m in aid to support 1,500 families
saib coordinates EGP 750m syndicated loan for Dorra Group’s CRC
saib acted as bookrunner and agent of the deal, while the National Bank of Egypt participated as a bookrunner and financing promoter, and the Suez Canal Bank also served as bookrunner.
NBE maintains syndicated loan leadership in Egypt 1Q 2020: Bloomberg
Bank concludes 6 financing deals of total EGP 15.4bn
Banks in local market move to support irregular employment
Banks make donations as follows, EGP 80m from NBE, EGP 40m from Banque du Caire, and EGP 20m from EBE
NBE starts selling Ma’ash Bokra insurance policies on Sunday
Policies issued in cooperation with Misr Life Insurance