Latest in Banking Highlight
Latest in Banking
This springs from the bank’s commitment to promoting economic development and contributing to the development of society by fighting unemployment, increasing the gross domestic product (GDP), and achieving sustainable development.
The bank acquired 7.82% of the total loans provided by the Egyptian banking system, and 5.68% of total deposits
CIB-Egypt targets attracting more customers through e-services
Bloomberg names the bank as best in promoting syndicated loans and funding projects in Africa
We have ambitious plan to expand in Egypt and launch innovative products to meet clients’ needs, says de Melker
Shrinking bank investment in investment funds, lowering maximum level of loans’ amounts can be granted for one customer, directing them toward SMEs
CBE prohibits Egyptian banks from offering retail loans with monthly instalments that exceed 35% of a debtor’s net income
Redistributing branches gives the bank a better chance to serve the Egyptian economy
Companies with annual revenues between EGP 1m and EGP 20m will receive a declining interest rate of 5% on loans
Foreign reserves are facing major challenges by the beginning of 2016; repaying installments of foreign debts, covering local demand for dollars
Electricity sector accounted for EGP 30.8bn; 14.8bn for petroleum; 9.45bn for construction; EGP 7.8bn for transportation
Saudi Arabia is committed to BEPS initiative and OECD action plan
The Monetary Policy Committee (MPC) meeting took three hours Thursday and ended without reaching a decision regarding the interest rates on EGP
CBE’s international foreign reserves increase by $23m at the end of December
Regulatory actions taken by CBE s capable of protecting Egyptian banking sector from risks during 2016, says report
The bank will begin applying the new Core Banking system and offer four new services by the beginning of 2016
The dollar’s value rose from EGP 7.18 in January to EGP 7.83 at year’s close, exceeding the level of EGP 8 through 2015
The bank intends to support the national economy by funding national projects
Over the years, enforcement activity has grown and in 2014, the exchange started to publish all violations on its website and through the trading terminals.
In its meeting held on Thursday, the Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) decided to raise the main interest rate indicator by 50 basis points (bps). This in turn boosts the overnight deposit rate, overnight lending rate, and discount rate to 9.25%, 10.25%, and 9.75% respectively. The MPC noted that …
The Central Bank of Egypt (CBE) has pumped $8.3bn between 29 October and 12 December to cover import operations and pay foreign state dues, CBE Governor Tarek Amer said. Amer explained, during a CBE conference on Thursday, that the CBE is committed to paying off the state’s hard currency dues. He noted that Egypt did …
We seek to double the bank’s market share in the next three years, we receive full support from the mother group, says Chairman
Chairman of the Housing and Development Bank (HDB) Fathy El-Sebai recently inaugurated the bank’s newest branch in Mokkatam, putting the bank’s total number of branches at 63. The inauguration was part of the bank’s plan to target expanding the bank’s network to 100 branches. The bank’s geographic expansion strategy aims to reach the largest number …
The National Bank of Egypt (NBE) employed the international telecommunication company Cisco to build its newest generation of secured data centres, which will provide customers with unlimited services and full security through Cisco’s modern NEXUS Switches. This agreement between NBE and Cisco is in line with their ongoing cooperation in the field of communications and …
Clients’ loans in Barclays Egypt increased by EGP 1.8bn during the first nine months of 2015, from EGP 5.3bn in December 2014 to EGP 7.1bn in September 2015, a growth of 34%, according to Mohamed Sherif, member of the bank’s board of directors and director of the financial department. Barclays Egypt achieved an increase in …
The Monetary Policy Committee’s (MPC) meeting took three hours Thursday and ended without reaching a decision regarding the interest rates on EGP.
The CBE accepted $1.1637bn of this liquidity
The council will discuss the future of interest rates on the pound and the developments of inflation rates, says senior official
Bank Audi Egypt succeeded in bringing $357m to the Egyptian market, bank Chairman and Managing Director Hatem Sadek said Sunday. This comes as part of the bank’s commitment to resolving the dollar crisis and to meet its clients’ foreign exchange requirements, Sadek told Daily News Egypt. The bank’s parent group in Lebanon granted its branch …
The award was presented by Regional CEO of Standard Chartered Bank Ahmad Abu Eideh, Executive Director of the office of Standard Chartered Bank Egypt Amr Abbas, and Customer Relations Manager Youssef Ali.