Latest in Banking Highlight
Latest in Banking
saib Bank to increase retail portfolio, financing for national projects, SMEs
saib Bank opens first innovative financial education centre as part of digital development plan, aims to have four centres in 2021
Global economic recovery depends on effectiveness, availability of COVID-19 vaccines: CBE
The CBE decided on Thursday, to keep the basic interest rates at 8.25% for deposits, 9.25% for lending, and 8.75% for main operation rate.
AAIB lends support to Egypt’s cashless economy drive
Bank to offer Egyptian merchants state-of-the-art N-Genius™ payment platform
Federation of Egyptian Banks contributes EGP 500m towards COVID-19 vaccine
Banks working in Egyptian market have donated over EGP 750m towards this cause
Central Bank of Egypt to review interest rates for 1st time in 2021 on Thursday
In its last meeting for 2020, Bank decided to maintain deposit and lending rates at 8.25% and 9.25%, respectively
CIB included in 2021 Bloomberg Gender-Equality Index
The Commercial International Bank (CIB) announced, on Tuesday, that it has been included on the 2021 Bloomberg Gender-Equality Index (GEI). The Bloomberg GEI is the world’s comprehensive, investment-quality data source on gender equality at publicly-held companies. The 2021 Bloomberg Gender-Equality Index includes 380 global companies spanning 11 sectors, representing 44 countries and regions. Collectively, the …
CIB included in 2021 Bloomberg Gender-Equality Index
Inclusion is bank’s third consecutive year of recognition for its strides in gender equality
Net foreign assets in banking sector rise EGP 20.991bn in December 2020
Household sector added EGP 643.108bn in local currency deposits during 2020
National Bank of Egypt adds NIB’s investment certificates to its savings vessels: Official
Net sales of former NIB’s certificates stood at about EGP 435bn in 2020
Bank Audi – Egypt reports EGP 10bn increase in assets, deposits during 2020
Bank Audi – Egypt has revealed that its total assets rose to EGP 85.6bn at the end of 2020, compared to EGP 75.3bn at the end of 2019. The latest figures represent an increase of EGP 10.3bn, and a growth rate of 13.7%.
Digital banking transactions through CIB’s Mobile Banking jump to EGP 53bn in 2020
CIB presents 2020 digital transformation results amid COVID-19
Egyptian Arab Land Bank seeks partnerships with real estate developers to utilise assets: Chairperson
Bank’s SMEs, retail banking portfolios increase to EGP 5.8bn, EGP 1.9bn respectively
CIB, City Edge sign cooperation protocol providing EGP 1bn for housing units
Bank to provide payment facilities to City Edge customers, mainly mortgage finance with 20-year repayment period within Central Bank’s initiative
Agricultural Bank of Egypt to settle EGP 6.3bn in bad debt for 238,000 farmers
Initiative includes EGP 3.9bn for principal debt and EGP 2.4bn for accumulated returns
National Bank of Egypt records EGP 1.8trn deposits, EGP 866bn loans in 2020
Bank’s customer base rises to 15.4 million, of whom 5.4 million subscribers to Al Ahly Net service, with EGP 417bn transaction volume
HSBC launches Sustainable, Transition Finance Team in Middle East
Team will help institutions, corporates, and individuals’ transition to more sustainable economy
Abu Dhabi Commercial Bank – Egypt achieves 14% net profit growth in 2020
Bank eyes continued expansion in Egyptian market, targeting 25% growth rate by 2021 end
EIB, Banque Misr sign €425m worth credit line agreement to finance SMEs
This agreement represents first tranche of €750m agreed upon earlier
First Abu Dhabi Bank fully acquires Bank Audi’s Egypt operations
Transaction is expected to be completed within next few months
CIB Sustainability Reporting Award recipients attend GRI Certified Training Workshop
Award launched in celebration of the bank’s five years of sustainability reporting
Egypt records 5% average headline urban inflation in 2020: CBE
Real GDP growth records -1.7% in Q2 of 2020, before recovering to 0.7% during Q3 of 2020
Egypt’s annual urban headline inflation declines to 5.4% in December 2020: CBE
Subsequent inflation target has been set at average of 7% (±2%) during Q4 of 2022, as announced in December 2020
BLOM BANK announces execution of SPA for Egypt operations
A definitive agreement has been signed by BLOM Bank and the Arab Banking Corporation (Bank ABC) that will see the former sell its entire 99.4% stake in its Egypt operations to the latter. In an announcement by the two sides, the sale will take place subject to its obtaining the necessary approvals from the Central …
HSBC eyes regional growth opportunities as GDP, trade rebound
HSBC has ambitious business plans in the Middle East, North Africa and Turkey (MENAT), where a rebound in GDP and international trade will position the region as one of the fastest growing in the world over the coming decade. As the nine markets in which the bank operates in the region bounce back from the …
Crédit Agricole Egypt releases first integrated sustainability report
Bank’s report highlights its keenness to preserve environment and commitment to Paris Climate Agreement’s target of reducing carbon emissions
Bank ABC completes acquisition of BLOM Bank’s Egypt operations for $480m
BLOM Bank Egypt employees expect new owners’ delegation to review work system
Banks adhere to cash dividends halt in Egypt to support capital base
Decision aims to maintain banking sector’s integrity, take proactive steps to meet potential risks, say bankers
Central Bank of Egypt explores ways to salvage tourism amid COVID-19 crisis
The Central Bank of Egypt (CBE) Governor, Tarek Amer, has held a high-level ministerial meeting to discuss methods of supporting the tourism sector during the novel coronavirus (COVID-19) pandemic.
ECB’s Lagarde says to go forward with digital euro
According to the ECB, a digital euro would be an electronic form of central bank money accessible to all citizens and firms.
Central Bank halts cash dividends at banks in anticipation of continued pandemic
Banks will not make cash dividends from profits or retained earnings to shareholders in anticipation of potential risks associated with pandemic