Latest in Tag: banks Highlight
Latest in Tag: banks
Customer deposits break EGP 5trn mark for first time in local market
Decision aims to maintain banking sector’s integrity, take proactive steps to meet potential risks, say bankers
Banks will not make cash dividends from profits or retained earnings to shareholders in anticipation of potential risks associated with pandemic
The Central Bank of Egypt (CBE) has issued new instructions regarding the management of operation risks at banks working in the Egyptian market. The CBE also said that it is continuously following up on and applying international practices in the field of banking supervision in the Egyptian banking system. This takes place by regular observation …
CBE indicated that the capital of the 10 largest banks operating in the Egyptian market reached about EGP 120.822bn in September 2020
I-Score has database of credit information for 18.6 million individuals, 415k SMEs
First Assistant Minister of Supply and Head of the ITDA, Ibrahim Ashmawy, said they are also working to provide commercial registry services in all chambers of commerce across the country. The plan includes approximately 35 banks as well.
Volume of bank deposits records EGP 4.9trn, with credit facilities reaching EGP 2.269trn, of which 59.6% for private sector
QNB Alahli accounts for 38% of total profits achieved by top 10 banks, recording EGP 5.572bn
Yield of some savings certificates, loan products automatically decreases by 0.5%, while market awaits launch of first bids for T-bills, bonds
Volume of doubtful debts allocations amounts to EGP 150.877bn, reserves amount to EGP 214.349bn
In a recent report, the CBE stated that demand deposits in local currency also increased by EGP 18.829bn to EGP 507.804bn in August, compared to EGP 488.975bn in July.
Upper Egypt largest beneficiary of development projects implemented, seeing 79,000 projects put in place with EGP 6.7bn in loans
Returns on some savings certificates and loans automatically dropped by 0.5% after corridor price falls
Banking sector deposits rise to about EGP 4.7trn, financial position of banks jumps to EGP 6.408trn by end of June 2020
Renewal for Okasha, El-Etreby and their deputies at NBE and Banque Misr, respectively, as Fahmy leaves IDB
Banks allocate EGP 150.079bn to address doubtful debts, alongside reserves of EGP 319.817bn
Complete inventory is being undertaken of clients benefiting from CBE loan deferral initiative
Should the deal be sealed, TE would merge WE with Vodafone Egypt
Fear of COVID-19 repercussions, increase in provisions for doubtful loans put pressure on banks’ balance sheets
CIB adopts long-term strategy to develop digital channels, automate payments, says Mohamed Farag
About EGP 180bn has been invested in 120,000 companies as part of CBE initiative to support MSMEs, says CBE Governor
Egyptian banks to support new accounts at no minimum amount or fees, free e-payment cards
In exclusive statement to Daily News Egypt, El-Etreby said that the donations have been given to a fund devoted to this matter.
Afreximbank elaborated that the $3.55bn support has been provided to the Central Bank of Egypt (CBE) and other Egyptian banks through its Pandemic Trade Impact Mitigation Facility (PATIMFA).
Total deposits up by EGP 92.4bn, total loans rise by EGP 91.9bn
Daily News Egypt monitors profit decline of 12 banks out of 16 surveyed
NFA surplus with banks, CBE records about $5.3bn increase
IBAN used in international transfers, standard method for accurate identification of bank accounts
Net foreign assets decline by EGP 171.5bn in March, foreign investments in Egyptian T-Bills decrease by EGP 37.819bn in Apri