BANKING

31 Mar 2015

Banks need to meet SMEs needs: CBE Deputy Governor


In a speech given on behalf of the Central Bank of Egypt (CBE) Governor, Hisham Ramez, CBE Deputy Governor Gamal Negm said that banks in Egypt should meet the financial needs of small and medium enterprises"...

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23 Mar 2015

Banque Misr orchestrates New Banking Alliance for Egypt Electricity Sector

Banque Misr, Egypt’s second largest public sector bank, is leading a banking consortium to secure a US$500 million financing in favour of state-owned Egyptian Electricity Holding Company (EEHC).


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22 Mar 2015

NBK-Egypt reports EGP375.5m net profit

National Bank of Kuwait-Egypt, the subsidiary of National Bank of Kuwait Group (NBK) in Egypt, reported a net profit of EGP375.5m for the year 2014 compared to EGP344.1m in 2013, an increase of 9.1 per cent year-on-year (y-o-y).


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21 Mar 2015

National Bank of Egypt in talks for dollar bond issue

National Bank of Egypt (NBE), the oldest commercial lender in the North African country, has invited banks to pitch for arranger roles on a potential dollar-denominated bond issue, two banking sources said.

A deal for the lender is expected to follow Egypt’s return to the international debt market in the second quarter after a five-year hiatus,...

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14 Mar 2015

Currency black market ‘over’ in Egypt: CBE governor

The currency black market has “disappeared” in Egypt due to the procedures adopted by the Central Bank of Egypt (CBE), governor Hisham Ramez said in his speech the Egypt Economic Development Conference (EEDC) Saturday.


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10 Mar 2015

World Bank high-level delegation to participate at Egypt's economic conference


The World Bank Group (WBG) will participate at Egypt’s Economic Development Conference with a high level delegation, Poonam Gupta, acting country director for Egypt, Yemen and Djibouti, told Ahram"...

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08 Mar 2015

Non-oil private sector conditions hit 17-month low: HSBC Egypt report


Egypt’s non-oil private sector conditions have worsened at the quickest rate since September 2013, HSBC Egypt Purchasing Managers Index (PMI), published on 3 March, said.


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08 Mar 2015

Piraeus Bank Egypt to focus on energy projects financing

Piraeus Bank in Egypt is targeting the financing of major projects during the Economic Summit this month.


Naira Amin, Chief Executive and Managing Director of Piraeus Bank Egypt, said the bank is giving special attention to joint finance projects proposed by the Egyptian government in the summit. Amin added that"......

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02 Mar 2015

NBAD ‘not interested in Citi's Egypt assets’

National Bank of Abu Dhabi (NBAD) is not interested in buying the Egypt retail business of Citigroup, and is instead targeting organic growth in the country and globally, the bank's chief executive told Reuters on Sunday.

The plan to grow organically by the United Arab Emirates' largest lender sets it apart from several other big Gulf banks, which...

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01 Mar 2015

Egypt's central bank keeps benchmark interest rates unchanged


Egypt's central bank kept its benchmark interest rates unchanged on Thursday as it balances the needs to manage high inflation with encouraging economic growth, the bank said in a statement.


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