Latest in Tag: Banque Du Caire Highlight
Latest in Tag: Banque Du Caire
Step comes in line with Egypt’s plan to transform into regional centre for Arab, African financial technology
Bank continues positive business results supported by ambitious plans, strategies it was keen to implement for over 3 years, says Tarek Fayed
Facility is designed to finance Banque du Caire’s expansion across Africa
Contract allows for limit of loans provided to micro-projects to be raised to EGP 500,000 each
Bank overcame challenges of 2020, banking sector one of strongest sectors supporting national economy, says Tarek Fayed
Bank has come long way in digital transformation, becoming top priority since implementing Integrated Development Strategy in 2018
The National Bank of Egypt (NBE) is leading an alliance of banks working in the Egyptian market to arrange an increase in financing for Oilex, an Egypt-based international company for the extraction of multiple forms of oils.
The transaction will be used to strengthen bank’s capital base and enhance its ability to finance its customers, especially MSMEs
‘We will continue to implement expansion plans without interruption as bank successfully established advanced business model in 3 years,’ says CEO Tarek Fayed
The loan will assist the Egyptian bank in developing its MSME lending activities, and expand access to finance for underserved MSMEs.
NEW loan of $15m bolsters funding base for important economic pillars
Fear of COVID-19 repercussions, increase in provisions for doubtful loans put pressure on banks’ balance sheets
Loan to finance 50% of total estimated investment cost of Mall of Katameya’s second phase
The programme aims to help SMEs open up in new international markets, and increase their exports in current ones, without incurring any financial burdens.
First contract worth EGP 500m will finance micro-projects, second project for financing women is worth EGP 120m, says Gamea
Fayed also emphasised that Banque du Caire’s keenness to boost and diversify its foreign currency funding resources is directed at financing SMEs, which are a cornerstone in economic growth and sustainable development.
Fayed said that all the bank’s initiatives since the crisis began have been to support state and medical sector efforts tackling the coronavirus.
Fayed added that full sterilisation operations are currently being implemented for the main headquarters’ offices and departments. A medical examination will be performed on all workers who were in contact with the positive case, and samples will be taken with the recommendation of social isolation.
Sukuk, securitisation issues take the lead, especially as interest rates drop
Offering aims to collect $500m, of which $50-75m from one or more strategic investors
Deposits up to EGP 151bn, loans EGP 79.2bn; SMEs portfolio grows by 146%
The factory is being built in Idku, Beheira, with a production capacity of 205,000 annually, at a total cost of €215m
The bank aims to open more centres to expand MSMEs’ services across the country, says Fayed
Banque du Caire’s microfinance portfolio reaches EGP 6.5bn benefiting 240,000 customers, targeting EGP 7bn by year-end, says Fayed
Bank intends to launch corporate Internet banking and mobile banking soon to reach the various customer segments and meet their needs
We have many ambitious goals to achieve our strategic vision, says Fayed
Company eyes EGP 5.5bn sales of Jefaira project, says CEO
Fayed statement came on the sidelines of the loan signing ceremony with real estate developer Inertia. He explained that the offering would be through a capital increase and the sale of a stake to a strategic investor, targeting around $300-400m.
Good results always push us to continue development, says Fayed
CBE receives 3 bids for United Bank, awaiting new offers