BANKING

20 Jan 2019

CBE cancels credit approvals issued before SMEs initiative abolition

Cairo: Credit approvals, issued by banks to customers, within SMEs financing initiative, and which were not operationalized prior to initiative suspension date, have been canceled by the Central Bank of Egypt (CBE).

CBE"...

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20 Jan 2019

Micro finance portfolio at Banque du Caire registers EGP 4.5bn at end of December: Chairperson

The size of the microfinance portfolio at Banque du Caire reached EGP 4.5bn at the end of December 2018, according to the bank’s Chairperson and Executive Director, Tarek Fayed.

Fayed stressed the importance"...

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17 Jan 2019

Bank of America Reports Fourth-Quarter 2018 Financial Results 

Bank of America reported its fourth-quarter 2018 financial results today. The news release, supplemental filing and investor presentation can be accessed in the following ways:

This press release features multimedia."...

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15 Jan 2019

Egypt picks banks to manage sale of stakes in state-owned companies

Cairo: Egypt’s CI Capital and Renaissance Capital will manage the sale of a stake in state-owned Abu Qir Fertilizers, a government official said on Monday.

EFG Hermes and Citi will manage the sale of a stake"...

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15 Jan 2019

Banque Misr manages, arranges 38 funding deals worth EGP 60.16bn in 2018

Banque Misr managed and arranged 38 funding deals worth EGP 60.16bn in 2018.

According to a report issue by the bank, it has sealed a total of 20 joint financing deals worth $1.5bn, an equivalent of EGP 27.5bn,"...

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14 Jan 2019

United Bank’s mortgage portfolio scored EGP 235m: Chairperson

The size of the real estate mortgage finance portfolio of the United Bank reached EGP 235m, according to the bank’s chairperson Ashraf El-Kady.

He explained that this portfolio covered 1,850 clients across"...

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14 Jan 2019

NBE launches first phase of electronic service branch project

The National Bank of Egypt (NBE) launched its first phase of electronic services branch last week through which the bank seeks to provide a new and distinct experience in providing banking services to its customers.

These"...

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13 Jan 2019

NBE, BM issue first national payment card

The National Bank of Egypt (NBE) and Banque Misr (BM) announced, last week, the launch of the first prepaid national payment card under the name Miza.

Hisham Okasha, chairperson of the board at the National Bank"...

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07 Jan 2019

Dollar prices stable at major Egyptian banks

CAIRO, Jan 6 (MENA) - The exchange rate of the US dollar was relatively stable during morning transactions on Sunday at major banks.

The dollar exchange rate settled at EGP 17.78 for buying and EGP 17.88 for selling at the National Bank of Egypt.

At Banque Misr"...

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02 Jan 2019

UAE banks invest AED87.2 billion in Saudi Arabia, Egypt

(WAM) -- The investment of UAE’s banks in Saudi Arabia and Egypt reached AED87.2 billion at the end of Q3 2018, representing 12.5 per cent of the total assets invested abroad, which amounted to about AED693 billion in September of the same year.

Figures"...

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