Latest in Banking Highlight
Latest in Banking
CIB – Egypt ranks first with profits of EGP 11.8bn, QNB Alahli ranks second with profits of EGP 8.522bn
Deposits up to EGP 151bn, loans EGP 79.2bn; SMEs portfolio grows by 146%
Expected exits, acquisitions, mergers, against Lebanese crisis, implementation of new banking law
Bank expects inflation to continue declining to single digits this year
Banque Misr received $2bn in January, $15.6bn in 2019: El-Etreby
The CBE rejected other offers from investors who requested an interest of 4.10%.
Khodeir’s comments came during a roundtable discussion held to tackle the banking draft law and its role in enhancing Egypt’s economic development.
20% of the total cost of implementing a housing compound project in the beach area of New Alamein City
Proceeds to cover a previous bid floated on 12 February 2019 worth $1.0141bn
Weighted return on new deposits declines in September 2019 to 11.5%, 16% on loans
The new personal loan is dedicated to customers with a monthly salary starting from EGP 2,600. The personal loan ranges between EGP 10,000 – 30,000. The loan offers customers repayment in fixed instalments over 12-36 months, and a full waiver of all administrative and assessment fees.
It is noteworthy that recently, there was some news circulating about a Saudi Arabian bank offering to buy BLOM Bank Egypt.
The bank aims to expand its participation in environment conservation and to apply these mechanisms on a larger scale.
CIB’s consolidated net income grows by 23% to EGP 11.8bn in 2019, proposes EGP 1.25 dividends per share
NBE, Misr Life Insurance jointly launch ‘Tomorrow Pension’ bank insurance product
Bank aims to teach younger generation how to manage their money, grow their assets: deputy chief operation officer
The bank is the only Egyptian institution to be included among the 325 companies in Bloomberg’s Gender Equality Index
Banks pumped EGP 160bn to finance 86,000 small, medium enterprises
Direction of capital movement remains dependent on future outlook of economic activity growth rates, development of global trade tensions
Increase of total outstanding balances of T-Bills to EGP 1.512trn 2019-end
Private business sector accounted for 59.2% of the total facilities, and the industrial sector is at the forefront of the sectors that benefit from it: CBE
External debt service reaches $2.9bn, including $1.7bn in instalments, $1.2bn in interest
The bundle features a range of banking and non-banking benefits, based on the Bank’s BONUS Points reward scheme
Company’s plan relies on achieving ambitious growth rates in various activities that lead to achieving the target profits
We aim to channel more financing to SMEs and retail loans: Aboul Fotouh
We aim to focus on industry in our next plan, in implementation of the initiative launched by the CBE to support this sector
Bank will be part of the CBE’s initiative to support industrial sector
I expect a rate cut from 2% to 3%, exchange rate to EGP 14-15: Abdel Aal
We continue to support and develop Egyptian industries to achieve sustainable development: Fahmy
External debt-to-GDP ratio 36% in Egypt, 48.5% in Latin America, 47.5% in Middle East