Latest in Banking Highlight
Latest in Banking
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
Bank is providing EGP 20m in aid to support 1,500 families
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.
Bank concludes 6 financing deals of total EGP 15.4bn
Banks make donations as follows, EGP 80m from NBE, EGP 40m from Banque du Caire, and EGP 20m from EBE
Policies issued in cooperation with Misr Life Insurance