EBE, IDB, Baraka Bank participate in providing the loan
Latest by Hossam Mounir
The company obtained the loan from the SAIB, Export Development Bank of Egypt (EBE), Industrial Development Bank (IDB), and Al Baraka Bank.
The CBE noted that banks secured provisions of 98% of total NPLs at the end of March 2019. The ratio reached 100% at the 10 and five largest banks.
Top 5 banks denominate 74.48% of profits, top 10 account for EGP 33.32bn of profits, says CBE
Investments of banks operating in local market in government debt instruments amount to EGP 680.882bn
Private enterprise sector denominates 60.8% of total facilities, with industry in lead, according to CBE
CBE may resume interest rate cuts in Q4 of 2019, with a total of 5% over 2 years, says Saada
New centre confirms effective contribution of banking sector in supporting government, CBE to encourage SMEs, says Helal
Seffa is leading figure who enjoys long history, experience within Group, appointing him ensures pursuing our strategic objectives in Egyptian market: El Kettani
Bank arranged 17 syndicated loans in 2018 worth EGP 90bn, won 15 international awards in this field
Ambitious plan, to support national economy, Egyptian industry in reaching world: Fahmy
In May, Bank Audi signed the final acquisition contract of the NBG-Egypt, however sealing the deal currently depends on the approval of both the CBE and Banque Du Liban, the central bank of Lebanon
Company targets expansion to 40 branches by year-end, 60 branches by 2020, says chairperson
Good results always push us to continue development, says Fayed
CBE receives 3 bids for United Bank, awaiting new offers
Boards of directors shall ensure banks’ plans match reliance on these companies, analyze risk associated with these services
Bank Audi- Egypt aims to support development of electronic payment system in Egypt by reducing dependency on cash, in addition to promoting financial inclusion: Bedeir
The bank’s total assets stood at EGP 95.86bn, up from EGP 84.44bn at the end of May 2018, rising by 13.5%.
Bank signs cooperation protocol with MFF for allocation, sale of 488 housing units in Beheira, Borg El Arab
Assembly grants board of directors right to establish branches, agencies, offices in Egypt, abroad, including Sinai Peninsula
Bank is launching its FinTech Hub, begins pilot phase in June
The company aims to build and develop programmes and systems for electronic payment and clearing operations, as well as provide and apply information technology in the field of electronic payment to enhance financial inclusion and access to the digital economy
CBE accepts 24 offers worth $715m with 3.85-3.88% interest
CIB ranks 1st with profits of EGP 2.64bn, QNB AlAhli follows, Faisal Islamic Bank in 3rd
Finance Ministry borrowed about EGP 184bn in T-Bills, T-bonds in April, about EGP 148bn in May
The Fintech accelerator programme is considered the first of its kind in Egypt, and will sustain 11 start-ups, both from Egypt and abroad, to accelerate the Central Bank of Egypt’s goal of making Egypt a global FinTech hub.
Bank has achieved a net profit of EGP 701.6m up 33.7% q-o-q
T-Bills balances reached EGP 1.151tn, T-Bonds at EGP 701.188bn, in addition to international bonds worth $23.21bn, €4bn
Government borrows EGP 1.827tn using debt instruments in 2018, EGP 473.75bn in Q1 of 2019
Loan extended over 5 years, expected to be disbursed starting June