Latest in Banking Highlight
Latest in Banking
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.
EGP 22.29bn were withdrawn within 5 days before Eid holiday, EGP 9.15bn in 4 days afterwards
CIB – Egypt tops the list by EGP 5.355bn profits, QNB Alahli comes second by EGP 4.217bn
Beltone added that the bank’s operating expenditure increased by 11.1%, maintaining the cost to income ratio at 23.1%, while credit impairment losses showed a healthy decline of 47%, which led to a decrease in the cost of risk by 173 basis points to 148 points.
The CBE affirmed that these standards comes in the framework of the CBE’s continuous endeavour to maintain the sound performance of the banking system.
According to the CBE, Egypt’s current net foreign reserves covers more than 8 months of commodity imports.
Bank continue to participate in CBE initiatives, says El Bahey
New standard reinforces CBE’s ability to improve monetary policy
New accounts opened free of charge, special offers made on 1-15 August
Foreign debt reached 35.1% of GDP at end December 2018, compared to 61.4% of GDP in European coutnries, EMs, and 41.9% in Commonwealth countries
Saudi Arabia is Egypt’s top lender with total debt of $8.7bn
Bank profits grow 47% year-over-year, says Farouk
Hosting this workshop confirms state’s keenness on supporting efforts to face challenges in Middle East, Africa: CBE
Bank embarked on comprehensive restructuring, development process based on extensive support received from CBE
Bank achieved 17% growth in deposits to EGP 1.186bn end-June 2019, retail loans to EGP 73bn, says Aboul Fotouh
Transportation projects among NBE’s top funded sectors, says NBE’s Sherif Riad
Total assets of bank increased to EGP 97.289bn end-June, up from EGP 85.902bn in June 2018
DNE sheds light on key performance indicators of banks operating in local market in April 2019
Company signed cooperation protocol with ITDA to automate commercial register customers bank query
New centres’ locations selected as per Egypt’s investment opportunities map
CBE’s initiative beneficiaries reach 68,000 this June, up from 38,000 in June 2018, says Okasha
Bank opens 1st specialised centres in business development services in Al-Yasmeen branch
Deposits up by EGP 1bn only as non-governmental deposits drop
Bank signs cooperation protocol with universities to provide workspaces for entrepreneurs
Direction of capital flows depends on outlook for economic activity rate of growth, development of global trade tensions
Bank accounts for 7.82% of loans, 5.17% of deposits in Egyptian banks by end-March 2019
Expected rise in inflation means CBE likely to keep interest rates unchanged for 3rd time in 2019
Bank’s Capital Adequacy Ratio reached 25.82% by end of June 2019
Meeting will discuss regional and international monetary, financial, and economic developments
Investment bank expects inflation to temper at 13.3% in Q3 of 2019