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NBE aims to pump EGP 200m in 2015 investment portfolio

The National Bank of Egypt (NBE) has aimed to pump EGP 200m to its investment portfolio during 2015, head of the bank’s investment sector Mohamed Ragaa’i announced. Ragaa’i explained that NBE is seeking for the investment portfolio to reach EGP 1.4bn by the end of 2015, compared to EGP 1.2bn by the end of 2014, …

Daily News Egypt

The Bank of 20XX

It started with the ATMs because they broke many banks’ assumption that their customers transacted all their bank business in their own branch.

Daily News Egypt

Lebanon’s Audi says Q1 net profit $85.8m

Reuters – Lebanon’s Bank Audi reported first-quarter net profit of $85.8m on Sunday, the same level as in the same period a year before. The bank said in a statement its net profit was driven by 12.2% growth in total income but that it had put aside $20.1m of net loan loss provisions. War in …

Daily News Egypt

Abu Dhabi’s Hilal Bank considers capital hike to fuel growth: CEO

Reuters – Abu Dhabi government-owned Al Hilal Bank is considering a capital increase this year to support growth of its operations, its chief executive said on Monday. The Islamic lender, owned by the Abu Dhabi Investment Council, an investment arm of the Abu Dhabi government, plans to expand its retail and wholesale banking business locally …

Daily News Egypt

Bahrain’s Al Salam Bank launches Asian Islamic REIT

Reuters – Bahrain’s Al Salam Bank has launched a listed sharia-compliant real estate investment trust (REIT) that will invest in a portfolio of Asian properties, the lender said on Tuesday. The REIT will invest in between 15 and 35 properties and be managed by Swiss-based B&I Capital AG, with Al Salam providing seed capital for …

Daily News Egypt