Partnership contract between Crédit Agricole Egypt and the Egyptian Shooting Club renewed for next ten years
Latest by Hossam Mounir
Deposits up to EGP 151bn, loans EGP 79.2bn; SMEs portfolio grows by 146%
Chief economist and banking analyst at HC, Monette Doss said, “Despite this, we expect the CBE to keep interest rates unchanged during its upcoming meeting before resuming monetary easing in its April meeting. Our expectation is based on (1) the drop in Egypt’s foreign currency deposits not included in net international reserves (NIR) to $4.41bn in January from $7.57bn in December going below its 2-year low of $5.20bn in January 2019
Growth of the real estate sector contributes to the continuous improvement of economic indicators: deputy governor
The bank’s total assets increased by about EGP 3.057bn to reach about EGP 50.501bn by end of December
Meanwhile, prices of other Consumer Price Index (CPI) items remained broadly stable.
Expected exits, acquisitions, mergers, against Lebanese crisis, implementation of new banking law
Bank grants 11,000 customers EGP 1.2bn within mortgage financing initiative
Bank expects inflation to continue declining to single digits this year
Banque Misr received $2bn in January, $15.6bn in 2019: El-Etreby
The CBE rejected other offers from investors who requested an interest of 4.10%.
The rise was supported by increase in prices of meat, poultry, and vegetables on monthly basis
Khodeir’s comments came during a roundtable discussion held to tackle the banking draft law and its role in enhancing Egypt’s economic development.
20% of the total cost of implementing a housing compound project in the beach area of New Alamein City
Proceeds to cover a previous bid floated on 12 February 2019 worth $1.0141bn
Weighted return on new deposits declines in September 2019 to 11.5%, 16% on loans
The January’s figure is the highest in the history of Egypt and it covers more than eight months of commodity imports.
Decrease in financing expenses supports profitability; improved corporate lending is major positive factor
Ghanem said the HDB would market the housing units offered by the fund through the bank’s website, to ensure transparency and equal opportunity, and to make it easier for citizens to apply for the units, whether inside or outside Egypt.
The signing of the agreement was attended by Amr Abu Al-Azm, CEO and chairperson of Tamweely, Ahmed Khorshid, CFO and Managing Director of Tamweely, Islam Shawky, CEO and Managing Director of Paymob, and Chloe Gueguen, Financial Inclusion Director at AWEF.
NBE, Misr Life Insurance jointly launch ‘Tomorrow Pension’ bank insurance product
Bank aims to teach younger generation how to manage their money, grow their assets: deputy chief operation officer
Banks pumped EGP 160bn to finance 86,000 small, medium enterprises
Volume of trade exchange between Egypt and its most important trading partners amounted to $14.15bn, equivalent to 60% of the total trade exchange
Direction of capital movement remains dependent on future outlook of economic activity growth rates, development of global trade tensions
Increase of total outstanding balances of T-Bills to EGP 1.512trn 2019-end
Private business sector accounted for 59.2% of the total facilities, and the industrial sector is at the forefront of the sectors that benefit from it: CBE
Household sector accounts for 81.6% of total deposits, 84.4% of deposits in local currency
External debt service reaches $2.9bn, including $1.7bn in instalments, $1.2bn in interest
Bank plans to launch several digital banking services, solutions in 2020, including Internet Banking for individuals, companies