Banking

HSBC Egypt appoints Todd Wilcox as Deputy Chairperson, CEO

Wilcox’s appointment was made with effect from 1 July, following the receipt of the required regulatory approvals. Joining from HSBC China, where he has been...

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CBE raises interest rates 2% for second time in 2 months

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QNB Al-Ahli cooperates with VISA to promote electronic payments

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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

Egypt’s annual core inflation on hold at 1.9% in March: CBE

The CBE added that its consumer price index (CPI) inched up to 0.4% in March, compared to 0.2% in February and 0.5% in March 2019.

CBE abolishes black lists, allows irregular customers dealings with banks

Banks given 3 months to filter databases, 12,000 companies, 320,000 citizens benefit from decision

NBE reports net profits of EGP 20.2bn in FY 2018/19

The bank’s total finances increased to EGP 1.6trn in June 2019, compared to EGP 1.5trn in June 2018. Equity amounted to about EGP 110bn in 2019, compared to EGP 92.2bn in the year before.

Banks tighten COVID-19 precautions following cases detected in some branches

CBE stresses importance of using electronic payment channels to limit virus spread

HDB extends Hassan Ghanem’s tenure as Chairperson, Managing Director for 3 years

Bank’s consolidated net after-tax profits reach record high of EGP 2.2bn in 2019

FEB, CBE launche initiative to support coronavirus affected

Bank donations divided into four segments according to 2019 profits

CBE temporarily regulates cash deposits, withdrawals

CBE sets daily limit for cash deposits, withdrawals in branches of EGP 10,000 for individuals, EGP 50,000 for companies

Over 5 million beneficiaries for loan installments postponement: CBE

Banks reveal initiative details initiative, microloans in trouble

Expectations of EGP depreciation against US dollar groundless: Expert

Global crises, like the coronavirus outbreak, examine the strength of Egyptian monetary policy , Mohamed Abdel Aal

EGP 29.4bn in sales of NBE, Banque Misr 15% saving certificates in 5 days

New saving certificates issued by NBE and Banque Misr gain LE 10.7 bn in two days.

CBE includes agricultural, aquaculture production firms in EGP 100bn industry support initiative

Initiative allows access to subsidised loans at declining 8% interest rate

EBI launches remote evaluation services for bank employees

Evaluation covers technical knowledge, English language tests, behavioural assessment, says Nosseir

Ministry of Agriculture, ABE cooperate to support poultry farmers, milk collection centres

The protocol was signed by Alaa Farouk Zaky, Chairperson of the bank and Moustafa El Sayyad, Deputy Minister of Agriculture for Livestock, Fisheries and Poultry Affairs.

CBE offers 2-year hotel loans with 6-month grace

Government halts administrative distraint on defaulters in tourism sector for one year

NSB defers loan repayments for 6 months under CBE’s initiative

Vice Chairperson and CEO of NSB Sharif Farouk denied what was reported about the bank not adhering to the CBE instructions due to his affiliation to the Ministry of Social Solidarity, noting that the bank coordinates with the CBE in this regard.