CIB, QNB, Credit Agricole, and ADIB are the main beneficiaries of the decision
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The project’s finance granted by AFD
The CBE decided to keep the maximum for personal housing loans at 40% of the total monthly income.
El Kosayer worked to restructure the Industrial Development and Workers Bank of Egypt in 2011 then moved in April 2016 to lead the Principal Bank for Development and Agricultural Credit and turned it into the Agricultural Bank of Egypt (ABE).
The factory is being built in Idku, Beheira, with a production capacity of 205,000 annually, at a total cost of €215m
These profits came despite the challenges that the banking sector has faced since the beginning of the year, including CBE’s interest rate cut and applying the IFRS 9
Bank’s credit facilities declined by EGP 31.7bn in three months to EGP 1.822tn: CBE
We expect annual inflation to rise in December to 7.3%, which is much less than the CBE’s target, in line with the monetary easing policy, says Monette Doss
Real estate companies’ portfolio reaches about 15% of the total corporate credit portfolio in the bank and exceeds EGP 10bn to 800 clients: Abo Zikry
The Loan is segregated into Tranches A and B, with maturity of five and four years respectively, complemented by a grace period of five months.
Bank’s SMEs portfolio amounts to about EGP 64bn, benefiting 74,000 projects, targeting EGP 100bn in 2020, says Aboul Fotouh
Moreover, the remittances of Egyptian expats in September hiked about $2.3bn, recording a month-over-month increase of 33.2%, equivalent to $581.2m, compared to about $1.8bn in August. It also recorded a year-over-year increase of 32.8% compared to September 2018, the CBE added.
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Attijariwafa Bank Egypt opened four new branches in Cairo and Giza
Crédit Agricole’S loan-to-deposit ratio reached about 57% in general, and 67% in local currency
The bank’s bad loans do not exceed 4%
SMEs portfolio increased to EGP 3bn: Azzam
One-third of bank’s customers has beem registered in its e-services
Annual headline Inflation rose to 2.7% from 2.4% in October
CBE floated five bill tranches worth $5.1432bn in 2019
Directives from president to allocate EGP 100m for industry sector, EGP 50bn for medium housing with 10% interest
Ghanem has extensive banking experience of more than 33 years, during which he held various leadership positions in the banking sector.
Gold reserves decline, SDR countered FX hike, curbing net foreign reserves increase to $107m in November, according to CBE
The Bank offers banking products and services that meet the needs of different customers, says Okasha
The initiative is expected to be announced next Wednesday
The launch of mobile collections represents a first for HSBC-Middle East, says Blanchet
277,000 customers in 15 banks and eight mortgage finance companies are to benefit from the service when fully implemented
CBE under Amer succeeded in managing the files of monetary policy and exchange market, which reflected positively on the performance of the national economy as a whole, say bankers
Banque Misr’s portfolio of SMEs reaches EGP 26bn by the end of September 2019
Amer, whose term ends this week, was appointed in 2015, succeeding former governor Hisham Ramez.