Private sector accounts for 60.8% of total facilities, with industry in the lead, says CBE
Latest by Hossam Mounir
Deposit growth fell to 11.34% in May from 11.46% in April
MSMEDA to provide necessary financing to owners of small industrial projects
Federation adopted initiative to develop informal housing areas in Cairo and Giza
Banks cut interest rates amid noticeable reservation so as not to affect their liquidity in local currency
CIB chairperson reveals that the development process includes infrastructure, roads, water delivery, schools, sanitation
Yield on T-bills on Sunday’s auction dropped by 0.75-1.5%
Banks are likely to extend deposit maturity to grant long-term loans without exceeding interest risk limit set by CBE
Government welcomes decision, investment banks forecast further cuts by end-2019, depositors are most affected,
Experts forecasts further cut before end-2019, debt instruments remain attractive
Total loans granted to agricultural projects reach EGP 14.2bn in 2018/18 up from EGP 9.6bn in 2016/17
Falling inflation and US interest paves the way for CBE to cut its core interest rates, say analysts
Bank’s credit portfolio increased to EGP 11bn end-July, of which EGP 1.6bn were loans to individuals, and EGP 3.2bn to SMEs, says Azzam
CBE set accepted yield minimum at 1.4%, maximum at 1.5%, average at 1.49%
Fayed statement came on the sidelines of the loan signing ceremony with real estate developer Inertia. He explained that the offering would be through a capital increase and the sale of a stake to a strategic investor, targeting around $300-400m.
54 clients would benefit from this protocol to provide them with the necessary financing for their factories, says IDB chairperson
T-Bills balances reached EGP 1.203tn, T-Bonds at EGP 766.36bn, in addition to international bonds of $23.21bn, €4bn, says Finance Ministry
CIB – Egypt tops the list by EGP 5.355bn profits, QNB Alahli comes second by EGP 4.217bn
Inflation continued to slow in July despite subsidy reforms influenced by its reading in the comparative period and its low reading in June
Beltone added that the bank’s operating expenditure increased by 11.1%, maintaining the cost to income ratio at 23.1%, while credit impairment losses showed a healthy decline of 47%, which led to a decrease in the cost of risk by 173 basis points to 148 points.
The CBE affirmed that these standards comes in the framework of the CBE’s continuous endeavour to maintain the sound performance of the banking system.
According to the CBE, Egypt’s current net foreign reserves covers more than 8 months of commodity imports.
Bank aims to expand in retail banking, attract new customer segments, says EALB chairperson
New standard reinforces CBE’s ability to improve monetary policy
Funding increased by EGP 4.04bn in a year, clients up 14.1%
New accounts opened free of charge, special offers made on 1-15 August
Foreign debt reached 35.1% of GDP at end December 2018, compared to 61.4% of GDP in European coutnries, EMs, and 41.9% in Commonwealth countries
Saudi Arabia is Egypt’s top lender with total debt of $8.7bn
Bank profits grow 47% year-over-year, says Farouk
New fund receives EGP 80m from Tahya Misr Fund, EGP 20m from Ministry of Endowments