BANKING

06 Feb 2016

Egypt dealers requests central bank to ease dollar crunch

Egypt’s currency dealers have requested the central bank ease restrictions they say will lessen a dollar shortage gripping the country that’s forced businesses and individuals to turn to the black market.

Representatives of about 25 foreign-exchange businesses in Egypt asked central bank officials at a meeting on Sunday for permission to swap...

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06 Feb 2016

IFC pledges $144 million for Egypt's energy infrastructure, ports

The International Finance Corporation (IFC), a member of the World Bank Group, announced Thursday it is providing a financing package of $144 million to Egypt's Sonker Bunkering Company.


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04 Feb 2016

UNB-Egypt chosen among 100 top companies in Egyptian market

The Union National Bank-Egypt (UNB) was selected as one of the 100 best institutions in the Egyptian market, according to an evaluation issued by Amwal Al-Ghad magazine in cooperation with Mubasher Company. The evaluation monitored the companies’ performance during the past three years.

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03 Feb 2016

Luxury Card Launches Three State-of-the-Art Metal Cards with Extraordinary Benefits, Powered by MasterCard

Luxury CardTM has launched three new metal credit card products with patented designs and construction: the top-tier MasterCard® Gold CardTM, the mid-level MasterCard® Black CardTM and the base-level MasterCard® Titanium CardTM.

This Smart News Release features multimedia."...

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31 Jan 2016

Size of Egyptian banking sector hits LE 2 trln by end of 2015: Fayed

The size of the Egyptian banking sector was EGP 2tn by the end of 2015, according to Deputy Governor of the Central Bank of Egypt (CBE) Tarek Fayed.


The statement was part of Fayed’s speech on behalf of CBE Chairman Tarek Amer in the opening session of the forum"......

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31 Jan 2016

NBE's SME loans amount to LE18.5 bln by end of 2015: Chairman

The size of loans to small and medium enterprises’ (SMEs) at the National Bank of Egypt (NBE) rose to EGP 18.5bn by the end of 2015, compared to EGP 3bn in 2008, according to NBE Chairman Hisham Okasha.


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27 Jan 2016

Bank of America Reports Q4-15 Net Income of $3.3B, EPS of $0.28

Bank of America (NYSE: BAC):

To view the full report and tables please click here.

Certain prior period amounts have been reclassified to conform to current period presentation.

This information is preliminary and based on company"......

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27 Jan 2016

Orient Takaful wins UNB-Egypt’s $63.8 million insurance policy bid

Egypt’s Orient Takaful Insurance Company has renewed an insurance coverage agreement with the Union National Bank of Egypt (UNB), the insurer’s senior vice president Walid Sayed Moustafa on Tuesday.


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26 Jan 2016

$500M delivered to Egypt Jan 7: African Development Bank official

Growth in Egypt has been increasing, from 2 percent in 2011-2013 to 4.6% in 2014-2015, and private investment has grown 22.8% in 2014-2015 due to gas sector growth, said Leila F. Mokaddem, the Resident Representative of the African Development Bank in the Egypt Field Office.


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24 Jan 2016

Banks race to implement CBE’s programme for funding SMEs

The banks operating in the Egyptian market are racing to implement the programme launched by the Central Bank of Egypt (CBE) on 10 January to support the small and medium enterprises (SMEs).

Banque Misr, the second biggest public bank in Egypt, began last week proposing funding products"...

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