22 Apr 2015
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"......Continue Reading
21 Apr 2015
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"......Continue Reading
20 Apr 2015
19 Apr 2015
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.
15 Apr 2015
11 Apr 2015
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.
11 Apr 2015
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.
08 Apr 2015
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"...Continue Reading
06 Apr 2015
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"...Continue Reading
05 Apr 2015
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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