BANKING

24 May 2015

NBAD hosts forum on opportunities and challenges facing Egypt

The National Bank of Abu Dhabi (NBAD) will bring together Egyptian government officials, business leaders and financiers at a forum in Cairo on 27 May, 2015 to discuss what steps the Egyptian government and businesses can take to promote long-term sustainable growth in the country.

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24 May 2015

ABK acquires Piraeus-Egypt for $150m

Al Ahli Bank of Kuwait (ABK) has concluded a definitive agreement with Piraeus Bank – Greece to acquire 98.5% of Piraeus Bank – Egypt’s shares.


The acquisition will occur through a transaction amounting to approximately $150m, according to a statement from the bank.


"......

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23 May 2015

Al Ahli Bank buying Piraeus Bank Egypt

Kuwait's Al Ahli Bank will pay $150 million for a 98.5 per cent stake in Piraeus Bank's Egyptian unit, a deal which will support its regional expansion and give the Greek lender a much-needed boost to liquidity.


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21 May 2015

US, Korean Banks may cooperate in Egypt's $7.5 billion Petrochemicals Project

Egyptian Investment Minister Ashraf Salman has discussed Wednesday plans to carry out petrochemicals project in Egypt with the representatives of the U.S. Export-Import Bank, Export-Import Bank of Korea (Korea Eximbank).


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17 May 2015

Central Bank of Egypt leans on currency devaluation

A series of moves by the Central Bank of Egypt (CBE) to devalue the pound and limit dollar activity are expected to help shore up foreign reserves and eliminate black-market currency trading.


The"...

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17 May 2015

World Bank Chief visits Egypt next June, meets with President Sisi

World Bank Group’s President Jim Yong Kim will embark on an official visit to Egypt next June 9 to meet Egyptian President Abdel Fattah al-Sisi and Prime Minister Ibrahim Mahlab.

Kim would lead an official delegation during his visit to meet a group of top officials and ministers too, said World Bank Vice President for the Middle East and North...

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17 May 2015

Global banking is HSBC’s priority in Egypt: Blanchet

HSBC Bank Egypt SAE’s Deputy Chairman and Chief Executive Officer, Jacques Emmanuel Blanchet, talks to Daily News Egypt to outline the priorities and goals that the bank holds in Egypt.


What"...

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17 May 2015

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.


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13 May 2015

ABG Egypt unit income surges 21pc

Al Baraka Bank Egypt, a subsidiary banking unit of Al Baraka Banking Group (ABG) and its investment arm in Egypt, announced that net income jumped by 21 per cent in first quarter of this year, compared with the same period"...

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12 May 2015

AfDB mulls $170 million Finances for Egypt Power, Infrastructure Projects

The African Development Bank Group is studying US$170 million in finances for two projects in Egypt, a senior source from the bank told Amwal Al Ghad Monday.


The two projects, worth more than US$600 million, could be included in the AfDB’s strategy to provide financing for infrastructure and energy projects"......

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