26 Jan 2015

Bank of America Reports Fourth-quarter 2014 Net Income of $3.1 Billion, or $0.25 per Diluted Share

Full-year 2014 Net Income of $4.8 Billion, or $0.36 per Diluted Share, on Revenue of $85.1 Billion(B)

Continued Business Momentum

  • Originated $15 Billion in Residential Mortgage Loans and Home Equity Loans"...

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25 Jan 2015

Egypt Mortgage Finance to disburse $100mn of World Bank next March

The Egyptian Mortgage Financial Fund (MFF) is about to disburse the World Bank-funded third tranche worth US$100 million next March, chairman May Abdel Hamid said on Thursday.


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19 Jan 2015

Mashreq profit jumps; bank eyes Citi's Egypt unit

Mashreq is holding talks with Citigroup about acquiring its retail banking business in Egypt and is targeting net profit growth in 2015 of between 6 per cent and 10 per cent, the Dubai bank's chief executive said on Sunday.

Abdul Aziz Al-Ghurair made the remarks to reporters after the emirate's third-largest bank by assets reported a 28 per cent jump...

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19 Jan 2015

Egypt is offered ¥43 billion loans during Abe visit

During talks with Egyptian President Abdel-Fattah el-Sissi in Cairo on Saturday, Prime Minister Shinzo Abe offered around ¥43 billion in loans to Egypt for airport and power grid projects.


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18 Jan 2015

ALEXBANK launches Bancassurance Programme with MetLife Alico

ALEXBANK and Pharaonic American Life Insurance Company (MetLife Alico) launched last week a strategic partnership to provide comprehensive Bancassurance solutions to 1.6 million customers, across the bank’s network of 170 branches spread across Egypt.

The partnership will offer"...

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17 Jan 2015

Egypt central bank cuts benchmark rates

Egypt’s central bank made a surprise 50 basis-point cut in its main interest rates on Thursday, saying plummeting global oil prices had eased inflation risks while economic growth was rebounding.

The central bank’s monetary policy committee (MPC) reduced overnight deposit and lending rates to 8.75 and 9.75 per cent respectively, surprising...

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11 Jan 2015

Central banks watch: South Korea, Indonesia, Poland, Egypt and Chile to set rates, Lockhart to speak

South Korea and four emerging market economies are scheduled to review their monetary policies next week and the eurozone is widely expected to announce more stimulus measures, while the Fed is looking for more"...

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11 Jan 2015

First ATM security cabinet to be introduced in Egypt

Cash Machine Services (CMS) is introducing a security ATM cabinet to Egypt, the first of its kind in the Middle East and North Africa region (MENA), said Khalid Abdel Wahab, CMS Board Member.


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10 Jan 2015

Emirates NBD Egypt organizes a high-level visit in support of the new Suez Canal Project

In keeping with its commitment to the support of national projects and the Egyptian economy, Emirates NBD Egypt paid today a high-level visit to the site of the new Suez Canal project for members of the bank’s management in Egypt and the UAE.


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05 Jan 2015

Faisal Islamic a Top Shariah-compliant Bank in Egypt – Poll

Faisal Islamic Bank is the most popular Islamic bank in Egypt for 2014, according to a new opinion poll.

The Egyptian Center for Public Opinion Research (Baseera)’s poll commissioned by the leading economic magazine Amwal Al Ghad found that Faisal Bank enjoys a 16 percent"...

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