Latest in Banking Highlight
Latest in Banking
CIB reports consolidated revenues of EGP 25.9bn, net income of EGP 10.2bn in 2020
Q4 2020 consolidated revenue of EGP 6.58bn and net income of EGP 2.89bn, or EGP 1.75 per share, down 11% from Q4 in previous year
Mashreq Bank Egypt sees 53% increase individual digital channel users amid COVID-19: Executive VP
Bank’s online, mobile banking platform to be upgraded to modern platform focusing on unique customer experience, says Haitham Hammad
COVID-19 crisis doubled mobile, internet banking users at Bank Audi – Egypt: CEO
Bank aims to automate some procedures to apply for loans, cards through digital onboarding systems, says Mohamed Bedir
Banks would have to face winds of changes, modernize their technology infrastructure: CIB Chairperson
Future onboarding of new clients, growing customer base may be faster, less dependent on physical premises compared to previously, says Sherif Samy
COVID-19 boosted Crédit Agricole Egypt’s digitisation plans: Walie Lotfy
Bank recorded spike in customers’ use of digital services, reaching 7 million logins and over 1.2 million transactions during 2020, says Crédit Agricole Egypt Deputy Managing Director
HDB adopts ambitious plan for digital transformation: Chairperson
Housing and Development Bank continues to keep pace with CBE plans, initiatives for digital transformation, enhancing financial inclusion, Hassan Ghanem
ADCB Egypt prepares to launch package of digital services: CEO
Bank completes final preparations for second phase launch of internet, mobile banking for individuals and companies, says Ihab ElSewerky
CBE leads banking sector’s major role in supporting Egypt’s digital transformation efforts
Bankers, experts forecast e-payments will grow significantly in coming period
ADIB-Egypt looks back on success in 2020 with unprecedented 10 awards
Global recognition awarded for ADIB-Egypt’s services, initiatives, innovation and customer excellence
Fierce competition between lenders, Fintech, Big Tech marks financial services post-COVID-19
One major change in the past year has been to turn what we historically did face-to-face into an online activity: and that is using video conferencing for meetings; shopping online; restaurant delivery; day-to-day digital banking; and the list goes on.
80% of Wealth, Personal Banking customers registered online: HSBC Bank Egypt COO
Over 2m transactions performed since January 2020, representing total value of more than EGP 400bn, says Sherif Aref
Agricultural Bank of Egypt grants EGP 31bn in MSME loans during 2020
Bank allocates 70% of loans to agricultural SMEs, says Chairperson Alaa Farouk
Banks to inject EGP 117bn into MSMEs until 2022 end: CBE
Banks in Egypt required to increase financing to MSMEs to 25% of credit facilities portfolio
Suez Canal Bank’s PBT exceeds EGP 1bn in 2020
Bank pumps EGP 1.4bn into CBE’s industry support initiative
Agricultural Bank partners with Kafr El-Sheikh to support youth projects
Governorate is cooperating with ABE to set up projects in agriculture, fish, and poultry production, says Governor Gamal Nour El-Din
Bank NPLs ratio in Egypt declines to 3.4% in September 2020: CBE
Banks set aside allocations to counter doubtful debts amounting to EGP 152.999bn
CBE-hosted FinTech Innovation sprint launched to address COVID-19 challenges
Innovation sprint in line with Egypt’s FinTech strategy, promotes entrepreneurs and startup cooperation with financial institutions to address COVID-19 challenges
National Bank of Kuwait – Egypt to increase issued, paid-up capital to EGP 5bn
Bank will also increase authorised capital from EGP 2.5bn to EGP 10bn
Al-Sharif Group, NBE sign EGP 978.2m financing contract for Shepherd Hotel renovation
Renovation and upgrade of Cairo’s renowned hotel is expected to take 42 months
CBE amends provisions of tourism initiative guaranteed by Finance Ministry
New amendment stipulates that initiative would end after exhausting amount allocated or by June 2021, whichever is closer
saib Bank sees net profits grow 84% to $20.4m in 2020
Increase in profits was driven by high net income from return, net trading income
Central Bank of Egypt reveals market performance indicators in September 2020
Customer deposits break EGP 5trn mark for first time in local market
HSBC launches its first cashback credit card in Egypt
Product is tailored to evolving needs of its Egyptian cardholders: Visa Country Manager
Mashreq Bank – Egypt launches ‘Turbo Loan’ for businesspeople, self-employed
New product ensures quick credit approvals within 48 hours, with credit limit of up to EGP 750,000, repayment periods of up to 7 years
Housing and Development Bank records 96% growth in retail loans in 2020
Bank also reports 380% and 20% increase in auto loans and customer deposits, respectively
ABE makes notable contribution to sector revival, countryside development: Chairperson
Bank sees huge increase in loan portfolio to EGP 44.5bn in 2020, of which EGP 31bn directed to MSMEs, says Alaa Farouk
Banque Misr submits tender offer to acquire 90% stake in CI Capital
News of Banque Misr’s intention to acquire further shares in CI Capital pushed company’s stock to its highest level in 8 months
CBE offers 1-year T-bills bid worth $980m on Monday
Proceeds of bid are used to pay for value of previous bid put forward on 11 February 2020
Banque Misr, NBE maintain interest on savings vessels
Proceeds of NBE’s various savings certificates increase by over EGP 230bn since mid-2020
Crédit Agricole rolls out Egypt’s 1st environment-friendly contactless payment cards
New polylactic acid cards from G+D are certified as environment-friendly by international bodies