Latest in Highlight
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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
CBE offers 2-year hotel loans with 6-month grace
Government halts administrative distraint on defaulters in tourism sector for one year
HDB pumps EGP 100m for auto loans in two months
Bank to centralise retail credit services, deciding on client’s credit eligibility take no more than 12 hours
Developers demand continuous, unlimited financing mechanism of mortgage loans
Egypt’s Ministry of Housing demanded the provision of logical payment periods for residential units instead of long payment periods.
Tamweely to disburse loans, repay instalments to customers in 4,000 post offices
Six branches of Tamweely in the post offices in Sharqia, Beni Suef, Sohag, and Qena will be inaugurated: Ahmed Khorshid
NBE contracts with Aman Microfinance to automate the disbursement of loans, repayment of instalments to its customers
The Bank offers banking products and services that meet the needs of different customers, says Okasha
NBE arranged syndicated loans worth EGP 28bn during Q3 2019: Bloomberg
Bank arranged a syndicated loan of EGP 1.7bn for Redcon Construction in cooperation with QNB Al Ahli
Domty signs two loans of EGP 100m, EGP 40m from CIB
The production capacity of the new line will be 270,000 pieces a day. Scheduled to start operation in February 2020, the new line will be Domty’s third bakery production line.
47.2% increase in investment loans granted to agricultural sector in 2017/18: CAPMAS
Total loans granted to agricultural projects reach EGP 14.2bn in 2018/18 up from EGP 9.6bn in 2016/17
NBE holds 29% of deposits, 21.2% of retail loans in Egyptian banking sector
Bank achieved 17% growth in deposits to EGP 1.186bn end-June 2019, retail loans to EGP 73bn, says Aboul Fotouh
EGP 399bn total corporate finance portfolio, syndicated loans at NBE end of April 2019
Bank arranged 17 syndicated loans in 2018 worth EGP 90bn, won 15 international awards in this field
Attijariwafa Bank-Egypt aims to attract 70 new credit customers with funds exceeding EGP 3bn end 2019
Africa and Development Club gateway for Egyptian exporters to penetrate African markets
NBE’s syndicated loans reach EGP 15bn in 1Q19
Bank ranked first in Egyptian market as bookrunner, agent, marketer of joint loans: Bloomberg
Banks operating in Egypt are strong, safe: CBE
NPLs down to 3.9% of total loans by end-2018
Greece scrambles to clean up banks and bad loans
MSMEDA injects EGP 1.9bn loans, grants in Menoufiya, creating 172,000 jobs
Study discussed to provide more jobs for youth in governorate, revive heritage, handicraft industries
CAPMAS monitors 78% hike in long-term loans to economic bodies in FY 2016/17
Increase in revenues came mainly from energy sector due to rise in international oil prices, pound flotation
Egypt’s New Capital attracts new investments, also locks country into Chinese loans, technology
‘Owner’ of New Capital is ACUD with two shareholders, 51% is NUCA, remaining is army, capital is $10.3bn
2,814 projects benefited from AFESD’s $50m loan
Projects obtained EGP 578m funding, created 12,700 jobs from loan
HDB’s SMEs portfolio amounted to EGP 2.2bn at end June: chairperson
Bank intends to pump EGP 400m to finance SMEs: El-Sebai
NPLs fall to 4.3% of total loans at end June 2018: CBE
Provisions to combat doubtful debts amounted to EGP 109.294bn in H1
QNB ALAhli accounts for 7.93% of total loans, 5.64% of deposits in Egypt
Bank’s LDR amounted to 67%, up from sector’s average of 45%
NBE ranks as first bank in Egypt for syndicated loans: Bloomberg
NBE relies on large capital base, exceeding EGP 98bn, enabling it to inject funds alone, or through banking alliances, says Riad
NBE decreases loans by 14%, finances second-hand vehicles to offset decreased demand
New instalment measures revive car loans’ demand in banks during coming period, according to bankers
NBE participated in arrangement of loans worth EGP 58.5bn in H1 2018
Bank is ranked first in Egyptian banking market in syndicated loans according to Bloomberg’s international assessment
Loans: Who is to blame?
The government borrows money to meet its short- or long-term needs when there is a budget deficit. This is called debt. So, debt is a bill paid by coming generations in cases of obtaining loans for the purpose of narrowing a budget deficit without aiming to finance development projects. Or it may be a bill …
Deposits up EGP 65bn, loans rise EGP 23bn in January 2018: CBE
The volume of deposits at banks operating in the domestic market jumped in January 2018 to EGP 3.39tn from EGP 3.32tn in December 2017, an increase of EGP 65bn, according to the Central Bank of Egypt (CBE). In its recent report, the CBE said that total government deposits increased in January 2018 to about EGP …
HDB targets EGP 8.82bn in deposits, EGP 3.7bn loans portfolio by end-2018
Bank aims to increase profits by 50% to EGP 1.5bn
EGPC negotiates with 5 banks for EGP 4bn loans
The Egyptian General Petroleum Corporation (EGPC) has started negotiations with five local and Arab banks to obtain EGP 4bn in loans to purchase and supply petroleum products. Sources from the EGPC told Daily News Egypt that the banks are Banque Misr, the National Bank of Egypt (NBE), National Bank of Kuwait (NBK), Al Ahli Bank …
QNB Alahli’s loans portfolio reaches EGP 111bn end-March
Bank’s LTD scored 60% in November 2017, versus 44% average across Egyptian banks