CBE reminds banks of LE 150k withdrawal restrictions in circulated message

Wed, 31 Jan 2024 - 05:11 GMT

Local media cited a message sent to banks by the Central Bank of Egypt (CBE), in which it reminded banks to follow the set daily limits for individuals and corporations at LE 150,000

Additional banks join in on restricting FX transactions abroad, some suspend withdrawals

Tue, 16 Jan 2024 - 03:52 GMT

Al Baraka Bank Egypt and EG Bank announced new restrictions on foreign currency transactions on Tuesday through their respective websites, following Abu Dhabi Islamic Bank (ADIB) and CIB’s new limitations released last Thursday

Banking sector sees significant increase in total bank deposits in August, CBE

Sun, 10 Dec 2023 - 05:07 GMT

Local currency deposits climbed by 15.1 percent, foreign currency deposits surged by 77.9 percent, and foreign currency deposits amounted to 21.01 percent of total bank deposits in August 2023.

Moody's places a review rating of 5 Egyptian banks

Wed, 17 May 2023 - 04:41 GMT

Moody's Investors Service (Moody's) has placed the B3 long-term local and foreign currency deposit ratings for review on all Moody's rated banks in Egypt.

Egyptian mothers allowed to open bank accounts, link savings pools to their minors

Sun, 19 Mar 2023 - 02:30 GMT

This comes within the framework of the CBE's continuous efforts to facilitate banking transactions for women; in order to promote financial inclusion in society by achieving gender equality in benefiting from banking services.

AUBE Reports 2022 Full Year Results, Recording 73.6% Growth in consolidated Net Profit Up To 2.04bn

Thu, 16 Mar 2023 - 12:15 GMT

Loans and advances portfolio reached EGP 53.9 billion. Total assets reached EGP 85.7 billion and the deposit portfolio has grown by 30.4% by the end of 2022.

Banks' investments in securities, T-bills reach LE 4.428T by end of 2022

Wed, 15 Mar 2023 - 03:13 GMT

This came in a report issued by the Central Bank of Egypt (CBE) on Wednesday.

Profits of banks operating in Egypt hit LE130.8B by end of 2022

Wed, 15 Mar 2023 - 02:56 GMT

The CBE stated in a recent report issued on Wednesday, the banks’ net revenues amounted to about LE 331.202 billion at the end of December, compared to LE 225.807 billion at the end of September.

Egyptian banks approve withdrawal fees, commissions on credit cards

Wed, 08 Mar 2023 - 06:24 GMT

Egypt Today reviews withdrawal fees and balance inquiries from ATM machines in Egyptian banks if the customer uses a credit card belonging to another bank.

Egyptian banks can withstand further EGP depreciation: Fitch

Tue, 17 Jan 2023 - 03:04 GMT

It added that large private-sector banks are better-placed to withstand currency depreciation than the two largest public-sector banks, National Bank of Egypt (NBE) and Banque Misr (BM), due to their higher regulatory capital buffers.

Total deposits of 5 largest banks in Egypt hit LE4.8T by end of March 2022

Sun, 19 Jun 2022 - 01:12 GMT

The capital of the five major banks amounted to about LE 109.599 billion, accounting for 47.6 percent of the total banks' capital amounting to LE 229.834 billion at the end of last March.

Value of instantaneous settlements between banks hits LE78.6T during 2020

Mon, 06 Jun 2022 - 02:38 GMT

The financial stability report issued by the CBE showed that the growth rate of these settlements amounted to 50 percent during 2020 on an annual basis.

FEB: Banks contribute over LE 400B to SMEs until end of 2021

Sun, 13 Mar 2022 - 05:50 GMT

Cairo has shown an early interest in supporting this sector, Etreby acknowledged, noting that this started even before the coronavirus pandemic.

US welcomes launch of Central Bank of Libya's reunification process

Sat, 22 Jan 2022 - 03:09 GMT

During his meeting with CBL Governor Saddek Omar Elkaber, the US diplomat encouraged the bank's team to abide by transparency while carrying out the reunification process.

Egypt's banks, stock market off on Thursday for Eastern Christmas

Mon, 03 Jan 2022 - 11:47 GMT

The stock market will also be closed on the same day.

Dollar prices stable at Egypt's major banks

Sun, 10 Oct 2021 - 11:29 GMT

At the National Bank of Egypt (NBE) and Banque Misr, the dollar rate remained stable, recording LE 15.64 for buying and LE 15.74 for selling.

Profits of Egypt's banks hit LE 30B during Q1 of 2021

Tue, 22 Jun 2021 - 03:20 GMT

CBE’s data indicated that the activity’s revenues amounted to LE 117.296 billion during the first 3 months of 2021, while total expenditures recorded about LE 87.305 billion.

Egyptian banks face continued pressure during 2021: Fitch

Thu, 08 Apr 2021 - 02:21 GMT

Fitch expected continued pressure on operating profitability due to lower interest rates and higher loan impairment charges as borrower support measures end.

CBE: Earnings of banks working in Egypt exceed EGP 58 bln by end of December 2020

Fri, 19 Mar 2021 - 08:18 GMT

The balance sheets of the banks working in Egypt, except CBE, have risen to EGP 7.022 trillion by the end of December 2020, up from EGP 5.856 billion by the end of December 2019.

Egyptian pound continues upward trend against US dollar at major banks

Thu, 11 Feb 2021 - 02:37 GMT

The dollar price registered LE 15.56 for buying and LE 15.66 for selling at eight banks.