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Latest in Banking


Piraeus Egypt has highest retail banking portfolio growth for 2014

The slowdown rate in Piraeus Bank-Egypt’s credit portfolio has declined, according to Retail Director Iman El-Essawy. She added that a plan, strategy, and new programme for credit have been prepared, which were approved by the mother company in Greece, and new loans were also offered to citizens. El-Essawy said that the growth of the retail …

Daily News Egypt

CBE leaves key overnight rates on hold

Reuters – Egypt’s central bank kept its official interest rates on hold as expected at a monetary policy committee meeting on Thursday, as the government tries to stimulate the economy while keeping inflation in check. Egypt’s economy has been battered by three years of political instability since a popular uprising ousted autocrat Hosni Mubarak in 2011, causing tourists and …

Daily News Egypt

Qatar’s Masraf Al Rayan buys Islamic Bank of Britain

Reuters – Masraf Al Rayan, Qatar’s largest sharia-compliant bank by market value, said on Thursday it had completed its acquisition of Islamic Bank of Britain (IBB). Al Rayan did not disclose the terms of the purchase. IBB was majority-owned by another Qatari lender, Qatar International Islamic Bank, which had been in discussions with Al Rayan over a sale since mid-2012. Al Rayan said in a bourse …

Daily News Egypt

QNB in final stages of NSGB acquisition

Qatar National Bank (QNB) Group announced that it is in “definitive agreement” with the French bank Societe Generale concerning the acquisition of its entire stake in National Societe Generale Bank Egypt (NSGB). Societe Generale owns 77.17 per cent of NSGB. QNB Group will launch a mandatory tender offer (MTO) for 100 per cent of the …

Mohamed El-Bahrawi

HSBC to launch mobile banking

During a media roundtable discussion the bank’s MENA regional head of retail banking and wealth management, Francesca McDonagh, announced the bank’s plan to open three new branches this year to cope with the growing residential developments in Egypt.

Mohamed El-Bahrawi