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CBE to offer EGP 24.5bn worth T-Bills, bonds on Sunday
New offerings part of government’s plan to issue EGP 610bn T-Bills, bonds until end June
CBE offers EGP 20bn in T-Bills as market awaits Finance Ministry move
The CBE will issue Treasury Bills and bonds worth EGP 186bn in May, as part of a government plan to borrow EGP 610bn between April and the end of June 2020.
CBE issues EGP 100bn stimulation for private sector borrowing: Amer
Initiatives are to help Egypt’s economy overcome ongoing pandemic
April inflation increased due to unfavourable base effects: CBE
Annual headline inflation increased due to higher annual food contribution which offset lower contribution of non-food items
CBE takes measures to reduce economic impacts of COVID-19
We moved quickly to preserve economic gains since launch of national economic reform programme, says CBE
CBE expands EGP 100bn initiative to contracting companies
The initiative had initially been set up to provide finance to private sector companies in the manufacturing and agriculture sectors with sales of EGP 50m.
Cairo Chamber of Commerce calls for adding commercial, service sectors in CBE’s 5% interest loans
Move is to protect commercial sector and allow it to fulfil obligations
HC expects CBE to preserve current rates at upcoming meeting
Doss added, “Less working hours have also disrupted production activity possibly leading to relative supply shortages of some goods also posing inflationary pressures.”
CBE considers engaging contracting sector in EGP 100bn initiative
Abdel Raouf added that attention must be paid to distributing the funds equally to all contracting sectors companies, regardless of their size.
CBE reveals February 2020 data for banks operating in Egypt
Financial position of banks operating in local market touches EGP 6trn, deposits and loans rise
Egypt’s NIR decline to $37bn in April: CBE
Bank honours all of its external obligations amounting to around $1.6bn
CBE receives 31 bids to invest $1.095bn in T-Bill auction
25 offers worth $975.4m were accepted
CBE offers $800m in 1-year treasury bills on Monday
Proceeds cover a previous tender, worth $1bn, offered in May 2019
ECMA seeks CBE support for brokerage companies amid COVID-19 fallout
HC Securities adopts cost reduction policy, focuses on online transactions
CBE highlights financial soundness indicators of local banking sector
Bank profits reach EGP 83.184bn last December: CBE
CBE highlights banks’ financial safety indicators
Bank profits reached EGP 83.184bn at end of December: CBE
Egypt’s banks report EGP 83.18bn net profits in 2019: CBE
Top 5 banks account for 50.1% of sector’s total profits, top 10 achieve EGP 58.7bn profits
FEC urges CBE to reconsider cash withdrawal limit for companies
Instead, Berzi suggested that companies should no longer have these limits, since many conduct their financial transactions in cash.
CBE issues new controls on loan instalment postponement
In March, the CBE issued regulations due to the coronavirus oubtreak allowing borrowers to defer paying instalments on bank loans for a period of six months.
January, February remittances increase by $1.3bn
The rise in remittances from workers abroad shows an increase rate of 33.6%, bringing the total amount of remittances in the first two months of the year to about $5.2bn. The latest figures compare to the roughly $3.9bn in remittances reported during the same two months last year.
Egypt’s annual core inflation on hold at 1.9% in March: CBE
The CBE added that its consumer price index (CPI) inched up to 0.4% in March, compared to 0.2% in February and 0.5% in March 2019.
Egypt’s net international reserves retreat to $40bn in March amid global shocks
Bank directs $5.4bn to cover local hard currency needs, bridge gap from foreign investment decline
CBE abolishes black lists, allows irregular customers dealings with banks
Banks given 3 months to filter databases, 12,000 companies, 320,000 citizens benefit from decision
CBE imposes restrictions on cash transactions, penalty on contravening car dealers
The CBE has set a daily limit for cash deposits and withdrawals at bank branches for a temporary period at EGP 10,000 for individuals and EGP 50,000 for companies. The latter are exempt from these limits in case of paying salaries or other obligations.
Consumer finance companies differ on CBE-offered loan payment delay
Drive securitises EGP 425m bonds, and will resume collecting postponed instalments from September
Al-Sisi advises CBE to study low-interest funds for tourism facilities
President met PM, ministers to discuss economic impacts of the coronavirus crisis
CBE abolishes sales cap on beneficiaries of its EGP 100bn industry support initiative
The CBE added that the decision aims to maximise the benefit of its initiative issued at the end of the previous year, which provides loans at an 8% interest rate through banks.
CBE keeps interest rates on hold amid coronavirus outbreak
CBE said that the COVID-19 outbreak, as well as the associated containment measures, induce a considerable disruption to economic activity and financial markets globally
CBE to discuss fate of interest rates in MPC’s Thursday meeting
The CBE said this step comes in light of global developments and the consequent movement to preserve the Egyptian economy’s gains since the launch of the national economic reform programme. It is also to preserve the proactive steps the CBE takes in exceptional circumstances.
FEB, CBE launche initiative to support coronavirus affected
Bank donations divided into four segments according to 2019 profits