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Denmark’s foreign ministry held a special briefing for about 130 companies, including drugs firm Novo Nordisk and brewer Carlsberg on Friday after being inundated with inquiries about the business implications of the crisis.
EBI conference this year encourages banks to adopt more sustainable practices
“What matters for banks is the ability to meet deadlines for loan repayments,” says former Chairman of Misr Iran Development Bank
The banking sector has been a source for filling financial gap of public authorities through granting them loans. Although experts stated that this initiative may be “politically motivated”, they stressed that banks always have reserves for loans.
Fitch believes that impairment charges should fall, leading to a gradual improvement in profitability, although further recovery in asset quality will depend on continued economic growth.
Boraie says decision was made to retain ability of sectors to compete with private sector
Total business volume, total assets and liquid assets of the bank all see year on year gains
Ambitious plans by Egypt’s banks to expand credit portfolios hindered by the country’s ongoing political turmoil
Ministry says it has received cabinet approval for draft law, now awaiting presidential ratification
A slowdown in regional banking activity, coupled with large restructurings of state-owned entities, stymied profits around the turn of the decade as banks set aside billions of dollars to meet loan losses and restrained their lending appetite.
The ministry releases statement listing top five Egyptian banks that trade treasury bills and bonds
Net profits reach EGP 830m
Bankers express concern that public bank maximum wage law will push talent away to private sector
CIB tops the list as the largest bank in Egypt followed by NSGB, the fastest growing bank in the country
Central Bank’s decision to cut the interest rates is seen as a way to boost economy
Rise in deposits seen as symptomatic of Egypt’s “economic deflation”
By Muhammad Zubair Mughal Apparently, it is a matter of pleasure that global volume of Islamic finance industry has crossed $1.3tn approximately, which is, definitely, providing the best and compatible sources of finance with interest free modes. According to a careful estimate, there are more than 2000 Islamic Financial Institutions offering Islamic Banking, Islamic Insurance …
Egyptian Trade Union Federation asks interior ministry for extra security at bank branches
Faisal Islamic Bank of Egypt announced net profits worth EGP 370.816m in the first half of 2013 compared to EGP 283.696m during the same period last year, marking a 31% increase.
Officials stated that the two sectors were very different and that one could not compare the two.
All banks are to remain open to receive clients between the 8.30am and 2pm, with employees required to stay until 3pm.
Banks returned to working normally starting Sunday for only three hours a day
Economic experts weight in on the effects of ongoing violence
The banks stated that they would study ways and mechanisms to decrease interest rates on triple term savings certificates, in order to reduce the cost of funds after intense declines recently seen in income derived from government debt and central bank tools.
The analysts stated that the recent downgrade would not have a large affect on Egypt’s banking sector, adding that the value of stock for some banks may decrease as a result, but only for one or two trading sessions at the most.
The Central Bank of Egypt orders banks to close early before army’s deadline to Morsi
Some banks convene meeting to form emergency plans, intensify security in case of upheaval
The law, which taxes funds set aside by banks to cover potential losses caused by defaulting debtors, was being reviewed by the Central Bank.
Ziad Bahaa El-Din Al-Shorouk Newspaper Columnist Ziad Bahaa El-Din tackles the issue of the new tax law issued by the Shura Council. “While Egyptians are busy pondering the fate of the kidnapped soldiers, the economic crisis, the blackouts, and preparing for the exams season, the Shura Council is issuing a new tax law. Its purpose …
CIB rated as most efficient, followed by NSGB, while HSBC places third due to its refusal to disclose information on its non-performing loans