Banking Sector

Net foreign assets rise in February, driven by international bond sales: CBE

Sun, 06 Apr 2025 - 01:19 GMT

The growth in foreign assets was partially fueled by the successful $2 billion international bond sale on January 29, marking Egypt's first dollar-denominated bond issuance in four years.

Egypt's banking sector sees 8% growth in brand value, ranking among Africa’s top 5

Thu, 20 Mar 2025 - 01:52 GMT

Several Egyptian banks were recognized among the 25 Most Valuable Bank Brands in Africa.

Banking sector achieves significant growth in 2024, net profits doubled | CBE

Thu, 20 Mar 2025 - 12:06 GMT

The report also revealed that net returns for banks operating in the country totaled LE 915 billion by the end of 2024, up from LE 582.5 billion the previous year.

Dubai’s Emirates NBD reportedly looking to purchase stake in in Banque du Caire

Thu, 13 Mar 2025 - 11:56 GMT

Banque du Caire, owned by the state-run Banque Misr, holds assets of $9.4 billion (LE 478 billion) as of September 30

Egypt’s Islamic Banking Sector grows 68% in 2024, accounting for 5% of market

Mon, 03 Mar 2025 - 11:47 GMT

This represents a significant increase of LE 412 billion from December 2023, reflecting an impressive 68 percent growth

Around 75% of banking sector in line with sustainable finance principles: CBE

Tue, 18 Feb 2025 - 12:22 GMT

With 75 percent of Egypt’s banking sector now aligning with sustainable finance principles, as confirmed by the CBE, the sector has set an industry standard for responsible financial practices.

Seasonal factors influence decline in Egypt’s foreign assets, NFAs drop 12.2% in December: CBE

Thu, 06 Feb 2025 - 10:55 GMT

Despite the recent downturn, Egypt's NFA position is expected to improve in January 2025, thanks to a $2 billion international bond sale.

CBE joins PAPSS to strengthen regional trade, economic ties in Africa

Tue, 03 Dec 2024 - 01:22 GMT

He also highlighted that this development is the outcome of the continuous communication and collaboration between the CBE and African central banks

Fitch upgrades ratings for 4 Egyptian banks

Tue, 19 Nov 2024 - 10:24 GMT

The sector’s net foreign assets deficit has narrowed significantly, dropping to $130 million by September 2024, down from $17.6 billion in January.

Afreximbank looks to expand its financing to Egyptian market by $3.2B

Sun, 14 Jul 2024 - 02:33 GMT

Egypt could potentially see fresh funding from the African Export-Import Bank (Afreximbank) by the end of the year, according to explained Executive Vice President of Global Trade Bank of Africa at Afreximbank, Haytham El Maayergi, speaking to Asharq Business

Banking sector improved significant post-Egyptian pound float, fresh FX, and reforms, says Fitch

Tue, 25 Jun 2024 - 11:13 GMT

According to Fitch, the exchange rate float on March 6, 2024, alongside substantial financing totaling $57 billion, bolstered forecasts for the sector

CBE releases local banking sector’s financial position in Feb. 2024, surging by LE 943B MoM

Mon, 24 Jun 2024 - 11:57 GMT

According to new data from the Central Bank of Egypt (CBE), cash balances held by banks operating in Egypt amounted to LE 109.394 billion in February, explained the CBE

Egypt's central bank aims to achieve single-digit inflation rate in coming period

Wed, 06 Mar 2024 - 07:53 GMT

He highlighted the detrimental effects of maintaining dual exchange rates, which lead to instability

CBE sets regulations for financial leasing companies financing

Sun, 03 Mar 2024 - 03:58 GMT

These measures aim to ensure that the total grants and investments in securitization portfolios of the leasing companies do not surpass 5 percent of the bank's overall portfolio of loans and credit facilities

Banks hedging financing for several “high risk for default” sectors

Mon, 12 Feb 2024 - 01:04 GMT

Identified as the real estate, tourism, fertilizers, fodder, rebar, cement, and ceramics sectors, the sectors were classified as “high risk of default” due to foreign currency shortages and high inflation

Banque Misr, NBE’s CDs collect LE 11B during 1st day of issuance

Mon, 08 Jan 2024 - 12:24 GMT

The NBE raised LE 7 billion and Banque Misr secured LE 4 billion

CBE delays charging transfer fees on InstaPay

Thu, 28 Dec 2023 - 04:50 GMT

Earlier this year, the CBE had previously mentioned that it would impose fees on transactions made via the app in early 2024.

CBE imposes restrictions on credit cards, FX transitions

Sun, 24 Dec 2023 - 05:38 GMT

Individuals holding credit cards issued on or after December 21 will be required to wait a minimum of six months before engaging in FX transactions

CBE studies allowing opening bank accounts via mobile app in 2024

Tue, 21 Nov 2023 - 05:16 GMT

The new service will be provided through the Digital Financial Identity Company, to which the Central Bank of Egypt contributes a 55 percent share of the company’s capital, which amounts to 500 million pounds.

InstaPay to potentially launch remittance services in Jordan, UAE and Saudi

Sun, 12 Nov 2023 - 05:54 GMT

The CBE is still studying whether remittances transferred via InstaPay will be credited to Egyptian accounts in local or foreign currency

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