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.

Moody's expects Egyptian banking system to remain stable in 2021

Thu, 21 Jan 2021 - 10:56 GMT

‘The stable 2021 outlook for Egypt's banking system balances profitability and loan book pressures against sound liquidity and a stable government credit profile,” it stated.

Egypt's central bank prevents banks from distributing cash dividends to shareholders

Tue, 12 Jan 2021 - 12:30 GMT

CBE attributed the decision in a periodic book on its website to strengthen the capital base of banks to face potential risks, as a result of the continuing crisis of the spread of the coronavirus.

Egyptian banks' assets, reserves abroad jump 90% in 7 months

Tue, 08 Dec 2020 - 03:19 GMT

The Egyptian banks' assets and reserves abroad returned to their previous record levels, a matter which reflects the success of the monetary policy.

Presidential decree approves deal with UAE banks

Thu, 05 Nov 2020 - 12:38 GMT

The deal was signed in July, 2020.

Dollar down 35 piasters against pound in 10 months

Sun, 01 Nov 2020 - 01:50 GMT

The dollar price dropped from LE 15.99 for buying and LE 16.09 for selling on January 1 to LE 15.64 for buying and LE 15.74 for selling on October 31.

Dollar exchange rate down at Egypt's banks

Sun, 16 Aug 2020 - 02:59 GMT

The dollar rate declined to LE 15.88 for buying and LE 15.98 for selling at 11 banks.

Egypt’s Sisi calls for new initiative to replace old cars with gas-powered vehicles

Sun, 12 Jul 2020 - 12:15 GMT

"We have the right, as a country, to license gas-powered cars only and to stop licensing new cars that run on gasoline," He added.

Extending banks' working hours in line with cabinet's decision: CBE official

Mon, 01 Jun 2020 - 09:44 GMT

The source added that all precautionary measures will be applied to prevent the spread of the pathogen.

European shares slide as virus fears persist, banks drop

Wed, 13 May 2020 - 11:21 GMT

The pan-European STOXX 600 index fell 1.1 percent by 0710 GMT, with banks proving a drag after a slew of negative updates.