BANKING

23 May 2018

HSBC gives 'optimistic' economic outlook for Egypt

HSBC is “fundamentally” optimistic on Egypt’s near-term outlook, the bank's Chief Economist for Central & Eastern Europe, Middle East and Africa Simon Williams said at an HSBC Economist Roadshow event in Cairo, according to a recent press release.

Williams"...

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22 May 2018

Egyptian tycoon Sawiris seeks to control group owning banks in 12 African countries

Beltone Financial, one of Egypt’s largest investment banks affiliated with business tycoon Naguib Sawiris, said on Sunday that the board of directors had agreed to acquire a controlling stake in the URA Group, which owns banks in 12 African countries, Reuters reported.

The"...

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17 May 2018

Dollar exchange rate up at major Egyptian banks

The US dollar exchange rate was up at major banks on Wednesday.

The dollar exchange rate went up by six piasters recording LE 17.78 for buying and LE 17.88 for selling at the National Bank of Egypt and Banque Misr.

The dollar exchange rate was also up by two piasters"...

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17 May 2018

Central Bank of Egypt expected to keep interest rates unchanged

The Central Bank of Egypt will most likely keep interest rates unchanged during its upcoming Monetary Policy Committee (MPC) meeting on Thursday, a number of economists have said.

Deposit and lending rates are"...

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16 May 2018

Egypt’s banks working hours to end at 1:30 pm in Ramadan: CBE

The Central Bank of Egypt (CBE) stated on Tuesday that the bank’s working hours during Ramadan will start at 9:30 am until 1:30 pm, at which time the bank clients will be allowed to do their dealings.

The"...

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16 May 2018

C.bank of Egypt unveils Ramadan working hours

Central Bank of Egypt (CBE) announced Tuesday working hours during the holy month of Ramadan will start at 9:00 am Cairo time and end at 2:00 pm.

The bank will be welcoming customers from 9:30 am to 1:30 pm, the"...

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16 May 2018

IDEMIA makes Smart PIN available to Ditto Bank, the next-generation French bank specialized in currency management

(AETOS Wire) -- Launched in February 2018, Ditto Bank is a new generation digital solution, which offers multiple accounts in different currencies to frequent travellers, cross border commuters, expats and students who study abroad. Smart PIN service enables Ditto Bank customers to access their PIN codes instantly in their banking smartphone app. A seamless customer journey means that there is no need for them to wait days to receive their PIN code, which is available immediately, and use their card. As this feature of the smartphone app can also be used for PIN reminders, the card will also be easier to use, since there is no risk of customers......

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14 May 2018

Union National Bank-Egypt Q1 profits fall 23.6%

Union National Bank-Egypt (UNB) reported Sunday a 23.6 percent drop in first-quarter net profits, reaching 60.04 million Egyptian pounds ($3.4 million) from 78.5 million pounds during the same period in 2017.

Net"...

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10 May 2018

AAIB Bank, Kfw’s SANAD Fund launch microfinance JV in Egypt

Egypt’s Arab African International Bank (AAIB) and Germany’s SANAD Fund for MSMEs launched on Tuesday a joint venture to practice microfinancing activities in the North African country.

The new company,"...

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07 May 2018

Egypt's state banks to start releasing high-yield deposit certificates issued in 2016

Egypt's state banks said they will start releasing this month the funds of clients who invested in high-yield certificates of deposit (CDs) offered when the central bank floated the currency in late 2016.

Egypt’s"...

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