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.

Egyptian banks federation obliges clients to wear face shields or masks amid coronavirus crisis

Mon, 11 May 2020 - 01:39 GMT

The decision shall take effect as of next Sunday, May 17, the federation said in a statement Monday.

Banking sector holds over LE 1T of cash liquidity: CBE

Mon, 27 Apr 2020 - 11:53 GMT

This gave a boost to both the public and private sectors during the coronavirus crisis, Amer noted.

LE 86 bln collected from 15% saving certificate in 4 weeks: NBE, Banque Misr

Fri, 17 Apr 2020 - 09:49 GMT

Deputy President of the Banque Misr Akef el Maghrabi said the bank had LE 28 billion from 117 thousand clients.

Banks open for 4 hours due to curfew

Wed, 25 Mar 2020 - 09:36 GMT

Banks will be open from 9:30 a.m. until 1:30 a.m. until the evening curfew ends.

Egyptian banks reduce interest rate of dollar-dominated savings by 1%

Tue, 24 Mar 2020 - 12:20 GMT

The source said the decision came in light of a trend by all international central banks to down the interest rate on dollars.

Deposits in banks hit LE 4.246T in January

Mon, 23 Mar 2020 - 01:01 GMT

Governmental deposits decreased LE 10.6 billion to reach LE 602.9 billion in the end of January, compared to LE 613.5 billion in December 2019.

Dollar exchange rate inches up at Egypt's major banks

Wed, 11 Mar 2020 - 12:09 GMT

At the Central Bank of Egypt, the dollar rate went up by one piaster to register LE 15.66 for buying and LE 15.78 for selling.

Banks and bourse are off on Thursday for bad weather

Wed, 11 Mar 2020 - 12:01 GMT

The source told MENA that banks will be back to work on Sunday.