Latest in Banking Highlight
Latest in Banking
CIB ranks 1st with profits of EGP 2.64bn, QNB AlAhli follows, Faisal Islamic Bank in 3rd
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
Bank will continue to grow as one of most important banking institutions in Egypt, Middle East: Bedeir
Increasing focus on Egypt will see CDC appoint country representative
Elfiky has a 35-year international experience in the fields of economic and financial consulting, training, scientific research, and applied studies in Egypt, Arab countries, and the United States.
Loan extended over 5 years, expected to be disbursed starting June
Law grants CBE’s board right to issue regulation, circulation, dealing rules with such types of currencies, money
Bank can support its presence among largest financial institutions in Egypt, Middle East, says Bedir
US currency lost over EGP 1 since beginning of 2019, including 34 piasters in May
Decision comes complementary to previous efforts by CBE to support MSMEs, says Negm
Private enterprise sector denominates 60.8% of total facilities, with industry in lead
Banks such as IDB, ABE, ELAB, EBE do not fall under the specialised banks category, will not be exempted from EGP 5bn minimum capital: Negm
Bank’s financial position rose to EGP 24bn from EGP 19.7bn in 2017, up by EGP 4.3bn or 21.8%: Fahmy
Expectations for US dollar to reach EGP 16.5
Bank aims to increase growth rates in coming period due to its optimistic outlook on Egyptian economy
Fourteen countries account for 60.62% of Egypt’s foreign trade volume, led by China
Bank helps with restructuring Nilex, says Fink
Pharos believes that the capital increase could trigger a wave of porfit retentions and mergers and acquisitiions.
NGOs rank first in terms of number of beneficiaries
The source explained, in a statement to the Middle East News Agency, that the law does not determine term limits for bank officials, including heads of banks and board members, pointing out that this applies to state-owned and private banks.
April’s inflation slowdown is temporary, may pick up again by end-May: analysts, investment banks
The CBE said in its monthly report on Tuesday that the domestic debt reached 78.2% of GDP.
CIB chairperson stresses need to develop systematic frameworks to increase investment in continent
Company expects CBE to continue trend toward reducing interest rate by end of Q3 or Q4 of 2019
Application provides full details of 161 kinds of cards issued by 33 banks in Egypt
Africa and Development Club gateway for Egyptian exporters to penetrate African markets
Bank aims to acquire larger market share in rapidly growing retail sector in Egypt
Bank achieved 12% increase in net profit in Q1 of 2019, rise in financial position to EGP 49.3bn: Refaey
It stipulates establishment of committee chaired by prime minister to maintain stability of state’s financial system