Latest in Tag: CBE Highlight
Latest in Tag: CBE
Central Bank of Egypt reveals market performance indicators in September 2020
Customer deposits break EGP 5trn mark for first time in local market
CBE offers 1-year T-bills bid worth $980m on Monday
Proceeds of bid are used to pay for value of previous bid put forward on 11 February 2020
Environment Minister, CBE Head discuss financing waste to energy industry
Meeting came as 1st phase of projects begin with investment of $325-390m
Central Bank of Egypt to review interest rates for 1st time in 2021 on Thursday
In its last meeting for 2020, Bank decided to maintain deposit and lending rates at 8.25% and 9.25%, respectively
Net foreign assets in banking sector rise EGP 20.991bn in December 2020
Household sector added EGP 643.108bn in local currency deposits during 2020
Egypt records 5% average headline urban inflation in 2020: CBE
Real GDP growth records -1.7% in Q2 of 2020, before recovering to 0.7% during Q3 of 2020
Egypt’s annual urban headline inflation declines to 5.4% in December 2020: CBE
Subsequent inflation target has been set at average of 7% (±2%) during Q4 of 2022, as announced in December 2020
Central Bank halts cash dividends at banks in anticipation of continued pandemic
Banks will not make cash dividends from profits or retained earnings to shareholders in anticipation of potential risks associated with pandemic
Egypt’s central bank allocates EGP 15bn to finance dual-fuel vehicle conversions
According to the central bank imitative loan period ranges from seven to 10 years, with the repayment to be made in equal monthly instalments
High solvency, liquidity enable Egypt banking sector to function successfully amid COVID-19: Central Bank
Banking sector has witnessed high financial stability in past years, allowing it to deal with many crises, contain their repercussions
Portfolio investment flows to EMs to recover slowly in 2021: CBE
Egyptian economy contained reversal in portfolio investment flows thanks to its relatively stable foreign currency sources and large net foreign reserve
Egypt’s central bank leaves interest rates on hold
Central Bank of Egypt new inflation target has been set at 7% (±2%) on average in the fourth quarter of 2022
Egyptian banking sector achieves EGP 45.549bn net profits in September
Top 10 banks in the Egyptian banking sector account for 65.5% of profits, top 5 banks account for 46.1%
Central Bank of Egypt to hold 8 monetary policy meetings in 2021
CBE to discuss future interest rates of Egyptian pound next Thursday
Financial position of banks in Egypt increases to EGP 6.676trn in August 2020: CBE
Volume of bank deposits records EGP 4.9trn, with credit facilities reaching EGP 2.269trn, of which 59.6% for private sector
Strong FX reserves, structural reforms support Egypt against external shocks: CBE
Aboul Naga’s comments came during the opening session of the Payment, FinTech, and Digital Inclusion Forum and Exhibition (Pafix) on Monday.
Local, international financial institutions offer to invest $1.755bn in CBE’s T-bills
The CBE floated the $1.56bn worth T-bill tender for a year, due on 16 November 2021.
CBE to float $1.56bn Treasury bills
The proceeds of this issuance will be used to pay for the previous bid put forward by the CBE on 19 November 2019, through which it received $1.56bn.
Banks in Egypt discuss fate of interest rates following CBE’s cut
Yield of some savings certificates, loan products automatically decreases by 0.5%, while market awaits launch of first bids for T-bills, bonds
CBE expects inflation to average under 6% in Q4 2020
Interest rate cut currently provides adequate support for economic activity, consistent with achieving price stability in medium term: MPC
CBE to discuss fate of interest rate on Thursday
MPC meeting is shrouded in ambiguity regarding expected decision, as some analysts and experts expect interest to be cut while others predict it to be fixed
CBE receives 43 offers worth €888.3m for Euro-denominated T-bills
The CBE had launched a tender to sell €690m 364-day T-bills on 9 November 2021, to pay for older issuance worth €695m that was made in November 2019.
CBE to launch €690m worth T-bill tender on Monday
The proceeds of the issuance will be used to pay the value of a previous bid put forward by the CBE on 12 November 2019, amounting to €695m.
After 4 years, Egypt’s exchange rate liberalisation proves its economic boon
Egypt sees $400bn in foreign exchange flows since decision enforced in November 2016: Bank Official
Egypt’s net international reserves up $795m in October to $39.22bn: CBE
Egypt’s international reserves consist of foreign currencies (FX), gold, special drawing rights (SDR), and net IMF loans.
Net foreign assets of Egypt’s banking sector up EGP 51.958bn in September
This came in addition to the decrease in the volume of foreign liabilities, equivalent to about EGP 19.65bn. It reached the equivalent of about EGP 704.338bn in September, compared to the equivalent of about EGP 723.988bn in August.
Local-currency bank deposits increase EGP 88.589bn in September: CBE
In a recent report, the CBE stated that demand deposits in local currency amounted to about EGP 523.515bn in September, compared to EGP 507.804bn in August, an increase of EGP 15.711bn.
Egypt’s bank deposits increase to EGP 4.788trn in July 2020: CBE
Private businesses receive 59.8% of total bank facilities, with industry at forefront of sectors gaining most benefits
Egypt’s external debt rises to $123.49bn in June 2020: CBE
The country’s external debt in June 2020 also increased by 14.79% compared to June 2019 when it reached $108.7bn.
CIB awaits CBE audit report following chairperson’s resignation
Two audit firms to look into CBE report on CIB violations, should financial fraud allegations stick