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17.4% increase in total bank deposits balance in 2017/18: CAPMAS

Total deposits balance increased in 2017/18 to reach EGP 3553.6bn, with an increase of 17.4% with the household and private business sectors having the greatest impact on high deposits. The Central Agency for Public Mobilisation and Statistics (CAPMAS) has issued the annual statistical bulletin for deposits and credit. It included information on the evolution of …

Hossam Mounir

Bank loans increase EGP 7.6bn in November

The value of bank loans provided to customers increased to EGP 1.431tn at the end of November 2017, edging up from EGP 1.424tn in October 2017. This marks an increase of EGP 7.6bn, according to the Central Bank of Egypt (CBE). In its monthly bulletin on the banking sector’s performance issued on Thursday, the CBE …

Daily News Egypt

Egypt among top 5 African banking markets: McKinsey

Egypt was chosen among the top five banking markets in Africa in terms of growth and profitability, according to a study by management consulting firm McKinsey & Company. The McKinsey report said that Egypt, Angola, Nigeria, South Africa, and Morocco account for 68% of the continent’s total banking revenues. The report identified four archetypes among …

Daily News Egypt

QNB named most valuable banking brand in Middle East and Africa

“QNB Group has maintained its ranking of the most valuable banking brand in the Middle East and Africa region,” according to the annual survey carried out by Brand Finance and published by The Banker magazine, an affiliate to the internationally acclaimed Financial Times newspaper. The award also placed the QNB brand among the Brand Finance …

Hossam Mounir

Metropolitan Egypt

Metropolitan Egypt negotiates with bank to secure financing for 3 companies

Metropolitan Egypt is negotiating with a number of banks to provide financing worth EGP 14m to three companies working in chemicals, medical devices, and contracting, according to company head Khaled Nagaty. Yasser Kamal, credit supervisor at Metropolitan Egypt, said that ProPlan Contracting needs financing of EGP 5m, in addition to letters of guarantee worth EGP …

Hossam Mounir