Latest in Banking Highlight
Latest in Banking
Top five banks hold 48.98% of total profits, and biggest 10 gain EGP 42.13bn
After four interest cuts since the beginning of 2019, analysts and bankers have different expectations of MPC’s decision
Bank prepares for a national savings project in cooperation with youth and social solidarity ministries, says Hassan Ghanem
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.
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
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
SWIFT gpi technology enables financial institutions to provide greater transparency and end-to-end tracking of a transaction, with all involved parties receiving real-time confirmation when a payment is credited.
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
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
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
Government, investors, and EGX are the most beneficiaries from the decision, while bank depositors are the most harmed
It’s the highest foreign exchange reserves in Egypt’s history, covering more than eight months of commodity imports.
Banks issued 3.5m Meeza cards until end-October, says CBE Deputy Governor
Service sector received EGP 62.2bn banking funds, while industrial sector got EGP 43.1bn
Egypt’s imports scored $66.529bn, while exports reached $28.495bn between July 2018 and June 2019
FX reserves up by $25.618bn, exchange rate and inflation fall, and public debt rises
The protocol was signed by Amr Gadallah, the bank’s vice president, on behalf of Amr Kamal, the bank’s chairperson, and on the other side, Tarek El Said, the club’s president and parliament member.
Dealing with financial institutions is better and cheaper than bonds, says Aboul Fotouh
The CBE noted that debt services reached $13.4bn in fiscal year 2018/19, including $10.2bn in instalments and $3.2bn in interest.
US currency lost 13 piasters of its value in October, totalling 178 piasters decline since beginning of 2019