Latest in Banking Highlight
Latest in Banking
Banque du Caire announces EGP 2.1bn profits in FY 2014/2015: Chairman
The bank’s net profit after taxes amounted to approximately EGP 1.3bn by the end of the FY 2014/2015
Al-Ahli Bank of Kuwait-Egypt’s commercial name to be launched end of 2015: Accad
Bank is continuing efforts to finalise procedures of its acquisition of Piraeus Bank-Egypt
CBE denies orders to reduce dealing with lawyers, judges, police officers, journalists
Banks offer services to all citizens without discrimination or favour, says CBE
9 banks offer self-query service, receive related complaints
Nine banks working in the local market, in cooperation with the Egyptian Credit Bureau of I-Score, are offering self-query service to help clients inquire about their creditworthiness. The banks also receive any complaints related to these reports.
Customers have right to check validity of their credit records: I-Score
Individuals, as well as small and medium enterprises, can check the validity of their credit records on their own, through asking for Self Inquiry via bank portals and the member companies that offer this service, according to Mohamed Refaat, I-Score Managing Director and Board Member. Refaat explained that if the customers find a mistake in …
Clients have right to object to credit reports: I-Score Managing Director
Clients have the right to raise complaints to object to the incorrect data and reports in the their credit reports within 15 days from the date of receiving reports, according to managing director of I-Score company, Mohamed Refaat. If no complaints are made during this period, data and information in reports will be considered correct …
25 banks contribute to I-Score’s capital alongside the SFD
Banks in the Egyptian market are contributing to I-Score alongside the Social Fund for Development (SFD). The list of banks include the National Bank of Egypt (NBE), Al-Ahli United Bank, HSBC, Banque Misr, Alex Bank, Intesa SanPaolo bank, Union National Bank-Egypt, Commercial International Bank-Egypt, Qatar National Bank (QNB), and Al Baraka Bank-Egypt. The Industrial Development …
High expectations for fixing interest rates at CBE next Thursday: Analysts
Euro’s decline and decrease in goods prices worldwide minimise effects of US dollar price increase against EGP
I-Score’s database includes over 10.1 million clients: Managing Director
92 entities use the company’s data, including 41 banks, while the CBE monitors the company’s activities
I-Score targets EGP 43.5m profits this year
The Egyptian Credit Bureau, I-Score, targets net profits of EGP 43.5m during this year, and a total operating revenue of EGP 118m, according to Mohamed Refaat, Managing Director and Board Member.
CIB amongst best 100 Arab entities: Forbes
Forbes, the international business magazine, has included the Commercial International Bank-Egypt (CIB) in its annual list of the strongest companies in the Arab world, for the year 2015. The CIB’s market value amounted to $6.3bn, with its assets estimated at approximately $20bn. Forbes’ annual list included 19 Egyptian companies, with a market value estimated at …
NBE launches first interactive teller machine in Egypt
The National Bank of Egypt (NBE) has launched the first interactive teller machine (ITM) in the Egyptian market
Money pools spread to avoid interest rates on loans
Banks should offer new products and incentives suitable for low-income citizens, reconsider interest rate on loans and ease loans procedures, says El-Khawaga
Ministry of Finance, public banks in new disagreement
Ministry demands government banks reduce volume of retained earnings, banks believe they are necessary to support capital base
Ministry of Finance, public banks in new disagreement
Ministry demands government banks reduce volume of retained earnings, banks believe they are necessary to support capital base
CBE fixes US dollar, ambiguity remains over 2 previous increases
US dollar stabilises at EGP 7.7301 after it rose 20 piasters in two stages
$422.9m Arab Bank Group’s net profit in first half of 2015
Loans and advances grew to reach $24.1bn, compared to $23.7bn on 30 June 2014
Market awaits US dollar’s trend at start of working week
Expectations of new rises in US currency’s price against Egyptian pound
Banque du Caire launches charity convoy for third consecutive year
Banque du Caire has continued its organisation of the charities convoy launched three years ago. According to the banks’ Chairman and CEO, Mounir El-Zahid, this year’s convoy was distributed among the governorates of Minya, Fayuom, Giza, Beni Suef, Qena and Luxor. El-Zahid explained that since the convoy was launched in 2013. The bank was keen …
3 banks arrange syndicated loan of EGP 1.3bn for Evergrow
List includes AAIB, National Bank of Egypt and Abu Dhabi Islamic bank
United Bank of Egypt to grant 100 awards to MasterCard ‘Rakhaa’ users
The United Bank of Egypt plans to grant 100 awards to its clients who hold the MasterCard “Rakhaa”, considered to be the first credit card which meets Shari’a provisions in Egypt. According to the bank’s Chairman of the Board of Directors, Mohamed Ashmawy, the award will be given to those who use the card for …
WASME to hold annual conference in Cairo in September: Vice President
The World Association for Small and Medium Enterprises (WASME) has decided to hold its annual conference in September in Cairo instead of Kenya. The decision was taken due to the association’s interest in the Egyptian market, according to Dr Khaled Nagaty, Vice President – MENA Region at the association. Nagaty explained, in a special interview …
EGP 597bn total local outstanding treasury bonds balances by June: Finance Ministry
$5.75bn in bonds were launched in international markets from September 2005 to 11 June 2015
EGP 12.246bn increase in banks’ deposits, EGP 16.8bn in loans last April: CBE
The CBE added that the household sector acquired EGP 75.9bn out of the total deposits of banks’ customers in April, where its deposits registered EGP 1076.371bn during that month compared to EGP 1062.607bn during March.
Dollar to officially jump to EGP 8.01: Dcode EFC
Widening gap between Egyptian, foreign inflation rates, decrease of Euro exchange rate against Egyptian pound, will push CBE to depreciate local currency
Dollar price against Egyptian pound stabilises, market anticipates CBE’s next step
CBE moved to raise the dollar to limit imports, says CBE Governor Hisham Ramez
CBE continues decreasing pound’s value against dollar
A further 10 piasters reduced against the US dollar to 7.83EGP
Banque Misr to support science centre in Children’s Civilisation and Creativity Museum
Banque Misr stresses its keenness on contributing to all projects that encourage science, support Egyptian talents and contribute to the development and renaissance of the community.
Four bank representatives in Egyptian Union for Real Estate Financing board
The federation also includes four representatives OF real estate companies affiliated to the banks
AAIB assets increase to EGP 91bn by end of March
The fund portfolio for companies at the bank reached EGP 31.4bn by the end of March 2015, a rise of 11.33% compared to December 2014.