Latest in Banking Highlight
Latest in Banking
IDB launches its 1st savings vessel product
Bank managed to increase its retail banking portfolio to EGP 1.4bn in 2 years: Fahmy
CBE launches service for instant bank account inquiry of deceased customers
Bank signs agreement to discuss situation of vehicles purchased by credit facilities
Beltone’s outlook for banking sector remains positive despite recent regulatory reforms
New banking draft law negatively affects dividends of small capital banks, slight impact of IFRS 9 on capital
Gold in FX reserves up by $69m in June 2019
FX reserves increased to $44.352bn end of May: CBE
Government intends to borrow EGP 522bn in Q1 of FY 2019/20
Ministry of Finance offers T-Bills, Bonds worth EGP 200.5bn in July, EGP 160.75bn in August, another similar figure in September
CBE confirms strength of banks’ financial positions by end of 1st quarter of this year
The CBE noted that banks secured provisions of 98% of total NPLs at the end of March 2019. The ratio reached 100% at the 10 and five largest banks.
Banks operating in Egypt post net profit of EGP 39.29bn end-March
Top 5 banks denominate 74.48% of profits, top 10 account for EGP 33.32bn of profits, says CBE
Foreign investment in Egyptian T-Bills rises to EGP 265.6bn end of April 2019
Investments of banks operating in local market in government debt instruments amount to EGP 680.882bn
Banks’ credit facilities see EGP 226.6bn rise end of March, deposits up to EGP 3.930tn: CBE
Private enterprise sector denominates 60.8% of total facilities, with industry in lead, according to CBE
Attijariwafa Bank Egypt launches 1st business development centre of Nile Pioneers Initiative
New centre confirms effective contribution of banking sector in supporting government, CBE to encourage SMEs, says Helal
ABE supports CBE’s push towards e-payments by issuing Meeza cards: ElKoseir
Maximum balance of card is EGP 1,000, maximum monthly use is EGP 50,000
USD loses over 122 piasters against Egyptian pound since start of 2019
Egypt received strong foreign exchange inflows during the recent period, which has pushed the US currency to depreciate against the pound
Seffa appointed Managing Director of Attijariwafa bank-Egypt, Sakr nominated as Chairperson
Seffa is leading figure who enjoys long history, experience within Group, appointing him ensures pursuing our strategic objectives in Egyptian market: El Kettani
EGP 399bn total corporate finance portfolio, syndicated loans at NBE end of April 2019
Bank arranged 17 syndicated loans in 2018 worth EGP 90bn, won 15 international awards in this field
IDB continues expansion plan with opening of new branch downtown Cairo
Ambitious plan, to support national economy, Egyptian industry in reaching world: Fahmy
Bank Audi has yet to apply for CBE approval to acquire NBG-Egypt: Helal
In May, Bank Audi signed the final acquisition contract of the NBG-Egypt, however sealing the deal currently depends on the approval of both the CBE and Banque Du Liban, the central bank of Lebanon
AfDB to focus on financing manufacturing sector in Egypt
The African Development Bank (AfDB) will focus on financing the manufacturing and industrialisation sectors in Egypt, AfDB Country Manager in Egypt, Malinne Blomberg, said on Monday
Tamweely Microfinance increases capital to EGP 75m
Company targets expansion to 40 branches by year-end, 60 branches by 2020, says chairperson
Net profit of Banque du Caire reaches EGP 1.218bn in Q1 of 2019
Good results always push us to continue development, says Fayed
Amer: 30-40% of Banque du Caire shares to be floated by October 2019
CBE receives 3 bids for United Bank, awaiting new offers
CBE regulates banks transactions with technical payment aggregator, facilitators
Boards of directors shall ensure banks’ plans match reliance on these companies, analyze risk associated with these services
HDB joins the list of official sponsors of African Cup of Nations Total 2019
We aim to be 1 of top 10 commercial banks in Egyptian banking market during coming period: Ghanem
Bank Audi-Egypt adds ‘Meeza’ card features on its debit, credit cards
Bank Audi- Egypt aims to support development of electronic payment system in Egypt by reducing dependency on cash, in addition to promoting financial inclusion: Bedeir
Faisal Islamic Bank of Egypt assets reach EGP 95.86bn by end of May
The bank’s total assets stood at EGP 95.86bn, up from EGP 84.44bn at the end of May 2018, rising by 13.5%.
IDB’s mortgage finance portfolio up to EGP 1bn for 10,000 clients
Bank signs cooperation protocol with MFF for allocation, sale of 488 housing units in Beheira, Borg El Arab
CIB’s Extraordinary General Assembly approves authorised capital increase to EGP 50bn
Assembly grants board of directors right to establish branches, agencies, offices in Egypt, abroad, including Sinai Peninsula
CBE selects its historic building in downtown Cairo as the headquarters of FinTech Hub
Bank is launching its FinTech Hub, begins pilot phase in June
EALB member of JoPACC directors board
The company aims to build and develop programmes and systems for electronic payment and clearing operations, as well as provide and apply information technology in the field of electronic payment to enhance financial inclusion and access to the digital economy
Total of 43 foreign, domestic investors offer to invest $970.6m in Egyptian T-Bills
CBE accepts 24 offers worth $715m with 3.85-3.88% interest
Citi invites Middle East, North Africa, Pakistan, Turkey Fintech Community
Group renews support to ‘Skills for Success: Employability Programme’ with AMIDEAST
