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Strong growth in Al Baraka Bank Egypt’s financial position supported by ample funding potential: Beltone
Beltone added that the bank’s operating expenditure increased by 11.1%, maintaining the cost to income ratio at 23.1%, while credit impairment losses showed a healthy decline of 47%, which led to a decrease in the cost of risk by 173 basis points to 148 points.
Rate cut essential to support growth, reduce debt service burden: Beltone
Research note affirms strong expectations of interest rate cut by 100 bps in September or November
Beltone expects CBE to keep interest unchanged
Investment bank expects inflation to temper at 13.3% in Q3 of 2019
Beltone’s outlook for banking sector remains positive despite recent regulatory reforms
New banking draft law negatively affects dividends of small capital banks, slight impact of IFRS 9 on capital
New electricity tariffs will save EGP 16bn from overall electricity subsidies in FY 2020: Beltone
The note added that the prices for higher consumption brackets, above 1,000 kW, remain unchanged at EGP 1.45/kW, as they already pay above the production cost of EGP 1.22/kW.
Beltone raises Domty’s FV to EGP 14.8, maintains buy rating on back of buoyant sandwich business
Beltone estimate that non-cheese revenue to grow by 61%, with Domty’s cheese sandwich revenues expected to double, due to the surprise price hike executed in the first quarter (Q1) of 2019 (factory price increased from EGP 2.5 to EGP 3.5).
Chance exists to reduce interest by 1% in May after inflation ease in April: Beltone
Egypt continues to provide attractive investment opportunity supported by raised credit rating, pound appreciation
QNB Alahli achieves strong growth in net profits despite high operational expenses
Bank maintains deposit portfolio of non-interest-bearing deposits, variable-rate deposits
Reform achievements are impressive, ensuring sustainability is essential: Beltone
Firm forecasts EGP 17.6 per USD in FY 2018/19, EGP 17.1 per USD in FY 2019/20
Fixing 95 octane’s price supports chance for 1% interest cut during CBE’s meeting in May ‘19: Beltone
Decision confirms our vision to contain inflationary pressures in H1 of 2019
Interest rates reduction decision by CBE is bold, revives investments in all sectors: Beltone
Decision will pave way for new reduction in interest rates in H1 2019
Beltone waives its claim against EFSA in preparation for reconciliation
Reconciliation not mandatory for EFSA, does not cancel administrative decisions: Sources
Beltone forecasts inflation of 17.8%, stable EGP
Services sector will continue to outperform in FY 2018/19, rise in tourism revenues to $11.1bn
Beltone revises Ibn Sina fair share value to EGP 16.5, lowers TE to EGP 16.5, maintains ‘Buy’ recommendation for both
Beltone Financial announced on Monday that they have raised their estimate of the fair share value of Ibn Sina Pharma to EGP 16.50 per share, up from EGP 13.60 per share, while decreased their estimate for Telecom Egypt (TE) fair share value to EGP 16.5 per share, down from EGP 17.5. Yet, Beltone maintained the …
Beltone expects stable interest rates in upcoming meeting on 27 December
Ease in inflation levels brings average inflation reading to CBE’s target zone upper bond, 16%, in Q4 of 2018
Beltone conference marked developments in view of economic reform programme
Second phase of tenders’ programme expected to be announced before year-end: Tawfik
Beltone expects limited impact on headline inflation from hike in customs FX rate
Move aims to increase tax revenues amid no new tax measures
Beltone forecasts stable interest on Egyptian T-bonds over 19% to keep debt instruments attractive for investment
“We maintain our view of a stable interest rates environment in till the end of 2018”: Mamdouh
Beltone appeals FRA’s decision, backed by ECMA, MCDR reports
FRA accuses firm of spreading misleading news about coverage of Sarwa Capital’s private offering
Beltone affirms compliance with Capital Markets Law, denies irregularities in Sarwa Capital’s IPO
Group’s brokerage arm continues to conduct normal business operations
CBE’s renewal of repurchase agreement with international banks to provide some support for FX reserves: Beltone
Company expects local currency will stabilise against dollar for rest of 2018, with possibility of slight fluctuation below EGP 18 per dollar
Beltone, HC expect CBE to keep interest rates unchanged on Thursday
Stabilized returns on debt instruments at over 18% keep them attractive, says Beltone
Domestic engines of price inflation will stabilize in the Q4 2018, then likely to see easing of monetary policy: HC
Beltone foresees an 8.4% GDP overall budget deficit in FY 2018/19
Fuel subsidies to hit EGP 120bn, against government target of EGP 89bn as international oil prices rise
Beltone forecasts inflation rise of 3-5% in Q3 2018
Company expects fuel prices to rise by 35-45% in July, CBE to keep interest rate unchanged
Beltone reveals strengths, weaknesses of 10 banks in Egypt
HDB, Credit Agricole Egypt, Faisal Islamic Bank results above expectations, ADIB’s lower than expected due to higher provisions
Beltone to lead acquisition bid for Orabank
Beltone Financial Holding announced on Saturday that its board approved in principle launching a bid to acquire a significant interest in African banking and financial holding company Orabank, which has 143 branches serving over 400,000 clients in 12 African countries, mostly in western and central Africa Orabank reported strong results in 2017 with net income …
Beltone downplays Moody’s short-term debt concerns
Beltone, expects that Egypt to continue the current trend depending on the external debt market to benefit from restoring investor’s confidence, according to a research note released by the firm. The note indicates that despite the current improvement in economic indicators, local currency deposits for new T-bills only cover 35% of the budget deficit in …
Relative stability in Egypt’s net international reserves at $42.6bn in March: Beltone
Egypt’s net international reserves continued their relatively stable status, increasing slightly by $87m to reach $42.61bn in March, up from $42.52bn a month earlier, and maintaining imports coverage at eight months worth of imports, according to a research note from Beltone Research. The note specified that such a slight increase is the result of the …
Average of 30-40 bps cut in banks’ net interest margin expected following CBE cuts: Beltone
Lengthening durations of assets while shortening those of liabilities are key defense mechanisms
Beltone expects tourism revenues to reach $6.2bn in FY 2017/2018
FY 2017/2018 expected to see reduced CA deficit, normalised portfolio inflows