Latest in Banking Highlight
Latest in Banking
5 industries, including F&B and plastics, acquired 60%, or EGP 41bn, of total used balances granted under initiative, says source
The initiative was launched by the CBE in January 2016, under the guidance of President Abdel Fattah Al-Sisi. It has achieved a record volume in facilities and loans granted, and the number of beneficiaries, by the end of March 2020.
New fund provides effective tool in cash management field, provides tax benefits, says bank chief
IBAN used in international transfers, standard method for accurate identification of bank accounts
Loan forms part of executive management plans to strengthen CIB’s capital base, in preparation for expected economic recovery
The article includes the payment of salaries for tourism sector workers for a period of three months starting in May 2020. The client must provide proof that salaries due in May have not already been paid.
Mohamed El-Etreby, FEB Chairperson stressed that there are no Egyptian banks, or banks operating in Egypt that purchased Ethiopian government bonds
The Business News Composite Index consists of four main indicators that address safety standards, rapid growth, customer satisfaction, and social responsibility. These four indicators are, in turn, based on a set of 16 sub-indicators.
Initiative aims to benefit clients of industrial, agricultural, and contracting private sectors whose annual work volume/revenues amount to EGP 200m or more
Banking sector’s financial position reaches EGP 6.165trn, capital adequacy ratio increases to 18.6% in March 2020
Finance Ministry to issue EGP 499.5bn of T-bills, EGP 100.5bn of T-bonds between July and September 2020
No strong prospects for inflationary pressures off of rising electricity prices or repercussions from exchange rate, says banking expert
Hosting online lectures, workshops over longer period will provide our entrepreneurs with increased expert accessibility, says Nocentini
Bank to continue buying shares in CI Capital to bring its stake to 20-25%, say sources
Bank continues providing uninterrupted comprehensive services alongside preventive measures to protect employees and clients, says HDB
Bank’s total financial position increased to EGP 30.380bn in 2019, an increase of 27% compared to 2018, says Maged Fahmy
Banque Misr signed the protocol as part of its vision to stimulate the real estate market and provide adequate housing for all segments of society. The protocol also comes in line with the state’s desire to provide mechanisms that contribute to the development of the real estate market.
Net foreign assets decline by EGP 171.5bn in March, foreign investments in Egyptian T-Bills decrease by EGP 37.819bn in Apri
Monetary and fiscal stimulus policies, structural reforms cushion negative consequences of coronavirus on most vulnerable, supports economic recovery once pandemic contained
In a first for the Egyptian market, companies can now manage their cash flow and trade finance, and get real-time transaction reporting, from the convenience of their mobile device.
Proceeds to cover a previous offer worth $715m issued on 11 June 2019
Like all currencies worldwide, local currency bound to be affected by current exceptional circumstances
The Swiss franc reached EGP 16.5466 for buying and EGP 16.6522 for selling. The Japanese yen recorded EGP 14.7044 for buying and EGP 14.8035 for selling.
Bank has made strong contribution to all CBE initiatives to support economy in these difficult times
The CBE will issue Treasury Bills and bonds worth EGP 186bn in May, as part of a government plan to borrow EGP 610bn between April and the end of June 2020.
It supports solutions and programmes to increase the working capital of the supply chain network whilst lower financing costs, speeding up operations, and providing lower risk.
We moved quickly to preserve economic gains since launch of national economic reform programme, says CBE
Significant increase, brings bank’s deposit portfolio to EGP 1.5trn
The Suez Canal Bank had owned a total of 560,000 shares, representing 1.27% of MIDOR’s capital.
Maintaining local currency attractive amid economic uncertainty due to Covid-19 crisis suggests keeping rates unchanged