22 Apr 2015

Technical financial inclusion provides LE 37 bln into banking sector: Hanafy

Minister of Supply Khaled Hanafy said the government has sought to make some economic reforms through policies and methods.

First of these includes technical financial inclusion, previously considered impossible, but which the government"......

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21 Apr 2015

Mona El Sayed resigns from HSBC Egypt – Sources

Mona El Sayed has stepped down as head of commercial banking for HSBC Bank Egypt, sources from the bank with knowledge of the matter told Amwal Al Ghad on Monday.

The sources stated that El Sayed had resigned without mentioning reasons behind her decision, ruling out receiving offers from other banks working in"......

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20 Apr 2015

HSCB launches EGP300m growth fund for SMEs

HSBC announced the launch of its second international growth fund in Egypt with a total EGP 300m for “Egypt’s international and internationally aspirant” small and medium enterprises (SMEs).


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19 Apr 2015

Improving economic fundamentals boost Egypt’s banking outlook

The banking sector outlook in Egypt has seen a steady improvement over the last one year, largely due to the strong revival in the domestic economy, according to rating agencies and analysts.


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15 Apr 2015

Egypt, Norway, Russia approved as AIIB founders

Egypt, Norway and Russia have been approved as prospective founding members of the Asian Infrastructure Investment Bank (AIIB), China's Ministry of Finance said on Tuesday.


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11 Apr 2015

Moody’s upgrades Egyptian banks’ ratings

Moody's Investors Service has upgraded to B3 from Caa1 the local-currency (LC) deposit ratings of National Bank of Egypt SAE, Banque Misr SAE, Banque Du Caire SAE and Commercial International Bank (Egypt) SAE as well as the LC deposit ratings of Bank of Alexandria SAE to B2 from B3. The standalone ratings of all five banks were also upgraded by one notch.


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11 Apr 2015

Egypt’s core annual inflation steps up to 7.21% in March, CBE

Egypt’s core inflation inched up to 7.21 percent in March year-on-year, compared to 7.15 percent a month earlier, the Central Bank of Egypt (CBE) announced late Thursday.


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08 Apr 2015

Commercial International Bank Sponsors the art talents of Upper Egypt

In line with its commitment to support the talents of Egyptian youth, the Commercial International Bank-Egypt (CIB), Egypt’s leading private bank, sponsored the third round of the cultural event “Salon Al-Ganoub”, held in Luxor and launched"...

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06 Apr 2015

Local banks deny restrictions on providing $100 notes

The Central Bank of Egypt gave no instructions to lenders operating in the country not to replace $100 notes with smaller units when conducting transactions for clients, several bankers told the Daily News"...

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05 Apr 2015

Barclays Egypt to boost credit portfolio to EGP 9bn

Barclays Egypt aims to increase its credit portfolio to EGP 9bn by the end of 2015, said Mohamed Sherif, head of the bank’s financial sector.

The bank’s credit portfolio reached EGP 5.2bn by the end of 2014, and Barclays aims to boost it by EGP 3.8bn, Sherif explained.


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