Latest in Banking Highlight
Latest in Banking
The Egyptian pound will not rise because of a new governor, says Abdel Aal
Analysts expect the new governor to amend some of Ramez’s decisions
Former governor of the Central Bank of Egypt (CBE) Hisham Ramez said he had requested to depart from his position at the CBE and end his tenure three months ago.
The CBE offered a third tender to sell dollars to banks operating in the Egyptian market this week, in which the CBE sold $37.8m to banks
Market awaits CBE’s next step; analysts believe July’s stability will be repeated
Price reaches EGP 8.40 in black market, which is in complete paralysis in anticipation of the central bank’s next steps
Government forecasts on the deficit will not be achieved and will jump to 10.2%, and debt allocations will increase further, says Farid
Bloomberg awards the bank for being the best in marketing joint loans and financing projects in Africa for the third consecutive quarter
Banks support their allocations to meet doubtful loans and reduce its investments in security
CBE decisions are against the interest of citizens, says head of Citizens Against Price Rises Association
The dollar value had been stable for around 100 days
During the signing of the agreement with Head of the Mortgage Finance Fund, May Abdel Hamid, Hassan said NBK is keen to participate in the promotion of low and middle income real estate finance.
The launch ceremony reviewed the financial and non-financial service packages that will be provided to projects headed by Egyptian businesswomen.
Mohamed Barakat, Tarek Amer tipped as potential replacements for Ramez
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