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CBE included microfinance sector in the initiative on Monday
CIB suspends all internal activities including gatherings in large numbers, limits training to online courses
CBE has signed an agreement with Nile University for a period of five years under the name “Nile Pioneers” aimed at developing, qualifying, and increasing the capabilities of young entrepreneurs in small and medium enterprises (SMEs).
CIB – Egypt ranks first with profits of EGP 11.8bn, QNB Alahli ranks second with profits of EGP 8.522bn
Growth of the real estate sector contributes to the continuous improvement of economic indicators: deputy governor
Expected exits, acquisitions, mergers, against Lebanese crisis, implementation of new banking law
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
Company plans to increase its remittance transactions to Egypt, says its vice president for Middle East, Africa and Pakistan region.
Service sector received EGP 62.2bn banking funds, while industrial sector got EGP 43.1bn
8 companies inject EGP 1.5bn, Taamir Mortgage tops with EGP 551.6m with 4,800 clients
Excluding credit portfolios purchased from micro finance companies or associations in 20% allocated to SMEs from loan portfolios at banks
Private sector receives 60.3% of total facilities, industry at the forefront of beneficiaries, says CBE
Most cuts were limited to variable return certificates
Credit rating agency expects Egypt’s GDP to grow 5.6% in 2019, additional rate cuts next year
Slight increase in non-performing loans at banks in 1H 2019, reaching 4.2% of total loan portfolio compared to 4.1% at end-March, says CBE
The CBE has instructed banks working in the local market to allocate 20% of their loan portfolios to finance SMEs. El-Etreby pointed out that NGOs were also included within this segment.
Reserves declined to EGP 236.06bn end-June, compared to EGP 238.89bn end-May
Banks’ credit facilities see EGP 224.7bn rise, private business sector holds 60.7%
Blom Bank Egypt launches contactless payment service via credit, debit cards
Largest ten banks in Egypt hold more than 81% of credit and debit cards
Private sector accounts for 60.8% of total facilities, with industry in the lead, says CBE
CIB chairperson reveals that the development process includes infrastructure, roads, water delivery, schools, sanitation
CIB – Egypt tops the list by EGP 5.355bn profits, QNB Alahli comes second by EGP 4.217bn
New accounts opened free of charge, special offers made on 1-15 August
Deposits up by EGP 1bn only as non-governmental deposits drop
Bank signs agreement to discuss situation of vehicles purchased by credit facilities
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
Private enterprise sector denominates 60.8% of total facilities, with industry in lead, according to CBE
Haftar’s Tripoli offensive could spiral out of control, yet fiscal deficit expected to narrow