Latest in Banking Highlight
Latest in Banking
EGP 53.774bn increase in local currency deposits at banks in Egypt during May 2021: CBE
Volume of term deposits, proceeds of savings certificates in foreign currencies increased to EGP 503.085bn
Egyptian government to depend less on local market in budget deficit finance
Debt instruments worth EGP 587bn offered during Q1 2021/22, compared to EGP 644.5bn in Q4 of 2020/21: Ministry of Finance
Egypt records $1.8bn balance of payments surplus in 9M FY 2021
This is compared to $5.1bn deficit last FY in wake of COVID-19 pandemic
Financial positions of banks in Egypt rise by EGP 532bn in Q1 of 2021: CBE
Capital at banks amounts to EGP 177.92bn, reserves register EGP 347.826bn, provisions score EGP 165.588bn
Net profits of banks in Egypt reach EGP 29.99bn in Q1 2021: CBE
Top 10 banks account for 87.84% of total profits recorded during Q1
Central Bank of Egypt extends precautionary measures against COVID-19 to 2021 end
This will see the precautions in place until 31 December 2021, rather than 1 July.
CIB participates in Egypt’s 3rd Green Economy Forum
Bank serves as event’s Sustainable Finance Partner, showcases 4 green finance programmes
HSBC commits funding to Egypt coastal ecosystem restoration project
The partnership is taking place with the World Resources Institute (WRI), the World Wide Fund for Nature (WWF), and a network of local partners on board.
12 banks in Egypt report EGP 6.495bn net profits during Q1 2021
CIB accounts for 44.27% of 12-bank profits, whilst HDB ranks second with net profit of EGP 620m
Banque du Caire reports EGP 1bn in net profit in Q1 2021
Bank continues positive business results supported by ambitious plans, strategies it was keen to implement for over 3 years, says Tarek Fayed
Egypt’s interest rates expected to remain unchanged for 5th consecutive CBE meeting
Urban inflation may rise gradually from 4.1% on an annual basis in April, to about 5.5% in September, says Radwa El-Swaify
ADIB-Egypt forms tri-party cooperation to launch pre-paid ‘Khazna Meeza’ card
New card will extend mobile financial services to underserved, unbanked segments of Egyptian society
Supporting entrepreneurship, MSMEs among Central Bank of Egypt’s priorities: Sub Governor
CBE has facilitated procedures for granting finance without approved financial statements
Egypt’s SMEs Development Agency, Banque Misr sign EGP 500m micro-enterprises finance
10,000 micro-loans will be provided across Egypt, with maximum of EGP 250,000 per loan
Egyptian government, banking sector take strong action to support MSMEs
National Bank of Egypt receives $100m from European Investment Bank to support SMEs
Afreximbank equips Banque du Caire with $200m intra-African finance
Facility is designed to finance Banque du Caire’s expansion across Africa
Egyptian remittances increase 8.5% to $23.4bn within 9 months: CBE
11% annual increase in remittances during March 2021 only
Egyptian Banking Institute announces cooperation with Mercer Mettl
The Egyptian Banking Institute (EBI), the training arm of the Central Bank of Egypt (CBE), has signed a cooperation agreement with the leading assessment services company, Mercer Mettl.
Central Bank of Egypt receives 24 bids worth $540.6m for T-bills in US dollars
Proceeds of this tender will be used to pay for previous tender launched by CBE on 9 June 2020, for which it obtained $509.3m
Banque Misr named fastest growing, CIB most efficient & bank of year: Business News
NBE tops technology index and top spender on social responsibility
Housing and Development Bank reports 13.7% profit growth in Q1 2021
Good results come due to clear development strategy through which HDB seeks to become among top commercial banks, said Chairperson Hassan Ghanem
Financial position of banks in Egypt increases to EGP 7.55trn in March 2021: CBE
Net foreign assets at banking system rise by EGP 155.3bn in 9 months
Egypt’s gold reserves climb $281m in May: CBE
Net international reserves increase to $40.468bn in May
Bank Audi Egypt CEO steps down, Bank ABC chief to leave within days
Sources indicated that Bedir is currently choosing between several offers from other banks operating in the Egyptian market, with his new position to be announced at a later time.
Faisal Islamic Bank increases large, medium company financing to EGP 10.5bn in March
Bank’s financing for micro enterprises records about EGP 17.046m
Suez Canal Bank pumps EGP 1.33bn in financing to individuals in March 2021
Customer deposits at bank reach EGP 45.887bn in March 2021
Crédit Agricole to discuss increasing issued capital to EGP 5bn in June
Increase to be financed through EGP 3.627bn of retained earnings, EGP 63.18m from capital reserve, and EGP 65.213m from special reserve
Agricultural Bank of Egypt’s loan portfolio reaches EGP 46.37bn in April: Chairperson
Deposits up EGP 15bn from March 2020 through April 2021
CIB net income rises 20% to record EGP 2.87bn in Q1 2021
Bank started 2021 on positive year following year marked by exceptional challenges and uncertainties, management said
ALEXBANK hosts webinar on Suez Canal’s Pivotal Role in Mediterranean, Global Maritime Economy
Bank cooperated with Italian company SRM since 2015 to analyse actual performance of Suez Canal