Latest in Banking Highlight
Latest in Banking
CIB and AFD aim to finance and promote climate and environment benefiting private investments.
The bank’s loans-to-deposits ratio increased to 58%, compared to the 41% average in the banking system
Clients will also be able to borrow money, and issue credit cards that have a maximum of 80% of the total account balance with facilitated terms.
The loan contract was signed on Thursday by Managing Director of NBK – Egypt, Yasser Hassan, and EBRD Director for Egypt, Philip ter Woort.
The rate of banknote issuance reached about 15.06% of GDP in June 2014, marking its highest level in the last four years, while it registered its lowest level in November 2014 when it recorded 12.17% of GDP.
The CBE raised the Deposit Operation mechanism on Monday, in order to absorb excess liquidity from banks operating in the Egyptian market.
The bank aims to finalise bad debts portfolio, spread its branches and services throughout the republic
Banque Misr allows companies to pay their due payments to the government from their workplaces via the internet, using the Corporate Payment Service technology.
According to CBE, foreign investors were the second largest investors in Egyptian treasury bills, following public banks, before January Revolution.
Finance ministry to issue treasury bills worth EGP 199.5bn, bonds worth EGP 82bn from October to end of December
Foreign investment in government debt instruments is too little compared to before the January 2011 Revolution
81% decline in banks’ value of savings during FY 2013/2014
The total facilities granted to the government by banks until the end of June rose by EGP 25.619bn to EGP 66.421bn, compared to EGP 40.802bn at the end of June 2014.
21% increase in loans and bank deposits until end of June 2015, over 50% increase in profits, says El-Etreby
El-Etreby added that the FEB has adopted an initiative under the name of “You must have a bank”, with support from the Central Bank of Egypt (CBE)
This year is the one most challenging years for monetary policy, says Hisham Ramez
Mubarak was the only African president who encouraged the establishment of such financial institution, says Afreximbank former president
The CBE needs to encourage greater financial inclusion, in addition to its role in achieving financial stability and pushing economic growth, El-Khouly said.
Study aims to identify the reasons of financial exclusion, as well as to reach a national strategy to apply the concept of financial inclusion, says Mai Abol Naga
CBE policies would improve the availability of foreign exchange, strengthen competitiveness, support exports and tourism, and attract foreign direct investment, says Jarvis
“The MPC decision was highly expected in light of CBE’s keenness to activate investment, move the economy and not to increase the burdens of local debt,” said Haitham Abdel Fattah
Only 18% of the residents in the Arab region have accounts in financial institutions, compared to 43% in developing countries generally, and 24% in the sub-Sahara African countries, said Mohamed Barakat, Chairman of the Union of Arab Banks (UAB). Barakat said international attention to financial inclusion stared on 29 December 2003, when the then-Secretary General …
The Central Bank of Egypt (CBE) is currently studying creating a guideline directory to support banks wishing to get into micro-finance activities, said Tarek El Kholy, Deputy Governor for Risk Management and Banking Supervision at CBE. El Kholy pointed at the CBE’s attention to micro-finance activity because of its great role in applying the concept …
The number of banking consumers in Egypt ranges between 10 million to 11 million persons, against about 54 million citizens who have the right to vote, said Mohamed El-Etreby, Chairman of Banque Misr and member of the Federation Of Egyptian Banks (FEB). El-Etreby added that financial inclusion is no longer optional, but rather a necessity …
Unlikely for CBE to raise its interest rates on the pound, according to IDBE treasury director-general
Plans to increase bank’s share in Egyptian market and open 7 new branches every year to 2017
The bank added that its branches in both the UAE and France also sent the files to the central banks in these countries on time.
The CBE could help banks do both if provided with sufficient liquidity, says former governor
Optimism about future is based on existence of determined administration to change and meet challenges