Latest in Banking Highlight
Latest in Banking
We have come a long way in developing IDB’s technological infrastructure: Fahmy
Bank is moving to open branches, plans to launch a number of e-banking services in next few months
Egypt eligible for penetration of e-payments: Gaber
Visa seeks to expand acceptance of digital payments in Egypt in cooperation with financial institutions, Egyptian government, FEDCOC, service providers
Crédit Agricole Egypt’s strategy prioritises our customers’ satisfaction: Finas
Crédit Agricole Egypt launched banki Wallet, offering individual clients a new method for easy, secure payments
ABE to develop digital structure, train workers: ElKosayer
Bank is targeting to issue 2.5 million Meeza cards in three years
Banque du Caire eyes comprehensive development of mobile payment services: Fayed
Bank intends to launch corporate Internet banking and mobile banking soon to reach the various customer segments and meet their needs
Banks issued over 31m e-payment cards in Egypt by end-2018: CBE
Largest ten banks in Egypt hold more than 81% of credit and debit cards
Bank financing’s contribution to budget deficit declines in 2Q19: CBE
Investors’ shift from T-Bills to T-Bonds reflects positive change in their macroeconomic outlook of Egypt
AAIB sets up EGP 1.5bn syndicated loan to Marakez
Loan to finance 50% of new mall on Cairo-Sokhna road
Data protection, cybersecurity key to ensure reliability of digital services in Africa: Ezz Al-Arab
CIB chief calls for early warning systems to combat financial crime on continent
HSBC Egypt starts dealing in China’s Renminbi
A complete suite of solutions for managing foreign exchange flows, trade settlement in RMB
GDP growth rate to continue moving onwards and upwards: CBE
Budget deficit projected to decrease to 8.2%, 7.2% of GDP in FY 2018/19-2019/20, respectively
Banque du Caire reports EGP 1.93bn net profit in 1H2019
We have many ambitious goals to achieve our strategic vision, says Fayed
Egypt scraps customs dollar; price to depend on CBE exchange rate
Government sources told Daily News Egypt that the decision was taken by the Minister of Finance, Mohamed Moeit, to unify procedures for all customs’ items.
EBI studies opening special training unit in cooperation with African countries
“We aspire to be an educational ‘beacon’ for all employees in the African banking sector,” says Nosseir
Banks’ credit facilities see EGP 218.6bn rise in 11 months
Private sector accounts for 60.8% of total facilities, with industry in the lead, says CBE
Foreign currency deposits account for 21.73% of total bank deposits end-May
Deposit growth fell to 11.34% in May from 11.46% in April
Egypt repaid $25bn of debt in two years: CBE
The CBE said in a recent report that these debts include $21bn of interest on paid loans and $5bn of debt services.
Yields on T-Bonds lose 0.85-1.38% after CBE’s interest rate cut
Banks cut interest rates amid noticeable reservation so as not to affect their liquidity in local currency
Banks pumped EGP 400m to develop informal areas in Cairo and Giza: Ezz El Arab
CIB chairperson reveals that the development process includes infrastructure, roads, water delivery, schools, sanitation
Limited interest rate cuts at banks’ on first business day following CBE decision
Yield on T-bills on Sunday’s auction dropped by 0.75-1.5%
Private sector awaits further interest cuts to resume borrowing from banks: HC
Banks are likely to extend deposit maturity to grant long-term loans without exceeding interest risk limit set by CBE
Egypt’s business community awaits more interest rates’ cuts to boost investment
Monetary easing cycle to create jobs, positively reflect on middle class, say experts
Banks to start intensive meetings Sunday to discuss implications of interest rate cuts
Government welcomes decision, investment banks forecast further cuts by end-2019, depositors are most affected,
HDB achieves EGP 1.072bn net profits June-end
Deposits up EGP 3.1bn, loans grow by EGP 1.24bn, capital adequacy ratio climbs to 19.95%
CBE interest rates cut to positively impact businesses, EGX, banks to readjust
Experts forecasts further cut before end-2019, debt instruments remain attractive
CBE slashes interest rates by 1.5%
CBE slashed overnight deposit rate, lending rate, and the rate of main operation to 14.25%, 15.25%, and 14.75%, respectively.
CBE to consider interest rates on Thursday amid expectations of cuts
Falling inflation and US interest paves the way for CBE to cut its core interest rates, say analysts
Industrial Development Bank offers funding to Shaq El-Teaban investors
Bank’s credit portfolio increased to EGP 11bn end-July, of which EGP 1.6bn were loans to individuals, and EGP 3.2bn to SMEs, says Azzam
37 local and foreign investors bid to invest €780.1m in Egyptian T-bills: CBE
CBE set accepted yield minimum at 1.4%, maximum at 1.5%, average at 1.49%
Banque du Caire to offer 30-40% stake on EGX by end-2019 or early 2020: Chairperson and CEO
Fayed statement came on the sidelines of the loan signing ceremony with real estate developer Inertia. He explained that the offering would be through a capital increase and the sale of a stake to a strategic investor, targeting around $300-400m.