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Banks support their allocations to meet doubtful loans and reduce its investments in security
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Eastern Mediterranean countries experiencing revolutions, war and bombings losses amounted to $250bn, says IUAB chairman
The total amount of National Bank of Egypt’s (NBE) loan portfolio has registered EGP 136bn, said Hisham Okasha, General Manager of NBE. Meanwhile, the net loan portfolio of the bank amounted to EGP 129bn, Okasha noted, adding that the current deposits portfolio EGP 405bn. NBE is currently setting a medium-term plan for geographical expansion, which …
Pensions distributed from postal offices reached EGP 35.9bn
Daily News Egypt takes a closer look into the banking sector’s performance over the past fiscal year, with examples of the financial results of state-owned, private and Islamic banks
A recent CBE decision saw an increase in the benchmark overnight deposit rate by 1% to 9.25%, and the overnight lending rate to 10.25%.
Central bank says loans granted to the government slumped by EGP 739m, while amount loaned to non-governmental sector increased by EGP 4.39bn
Egypt has received nearly monthly financial support from international institutions and countries over the past 10 months. The Daily News Egypt lists the financial packages received from such entities.
The report added that total non-government deposits rose during November to reach around EGP 1.115tn, compared to EGP 1.09tn in the previous month.
The deposits rose to EGP 188.8bn compared to EGP 162.5bn, reflecting a 16.2% increase, exceeding the sector’s average, recorded at 15.1%. This expanded Banque Misr’s market share to 15.9%.
Central Bank decision to maintain interest rate was expected by analysts in order to curb inflation and save the deposits of family sector in banks
This decision will help Central Bank of Egypt to take long term decisions: Expert
Business is proceeding as normal within banks, he said, adding that strict security measures had been taken at bank entrances and exits, in order to prevent acts of theft and robbery from taking place at various branches.
Rise in deposits seen as symptomatic of Egypt’s “economic deflation”
Bank: “Rumours aim to destroy the confidence in the stability and safety of the country’s economy”
Bonds to mature in three years with 3.5% interest rate
Egypt’s Central Bank recently announced on its website that key interest rates on deposits and loans would remain unchanged after a meeting held by its committee for monetary policy.