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.

Fitch Ratings lowers credit rating of 3 state banks and 1 private bank to B-

Tue, 14 Nov 2023 - 03:40 GMT

Fitch lowered its long-term issuer default rating for state-owned National Bank of Egypt, Banque Misr and Banque Du Caire, as well as Commercial International Bank (CIB)

Standard Chartered Bank to launch local operations by end of 2023

Thu, 09 Nov 2023 - 01:41 GMT

MPED minister El-Said met with the bank’s executive team on Wednesday, reviewing several economic development files such as the National Program for Economic Reforms

CBE directs banks to impose new controls on cash withdrawals from credit cards abroad

Tue, 17 Oct 2023 - 05:44 GMT

In an official statement, the central bank’s directive was sent after it became aware of users withdrawing cash abroad despite not traveling

CBE reports total financial position of banks operating in the local market at LE 13.79trn

Sun, 24 Sep 2023 - 03:01 GMT

Banks operating in the Egyptian market recorded cash balances of nearly LE 106.241 billion in June 2023, with balances in local and foreign banks of LE 2.326 trillion and LE 308.623 billion, respectively

Banking sector’s domestic liquidity jumps to LE 8.34trn in July 2023, CBE

Sun, 03 Sep 2023 - 05:13 GMT

According to CBE’s report, Egypt’s money supply, consisting of cash circulating outside the banking system and demand deposits in local currency, has risen to LE 2.097 trillion

CBE announces new digital bank capital requirements and regulations

Thu, 13 Jul 2023 - 12:06 GMT

With the new licensing regulations, digital banks will be required to keep a minimum issued and paid-up capital of LE 2 billion ($65 million)

Islamic banking accounts for approx. 5% of overall Egyptian banking sector, says EIFA

Thu, 01 Jun 2023 - 03:01 GMT

Islamic banking accounts for approximately 5% of the overall Egyptian banking sector, according to the EIFA’s latest data

4 Egyptian banks see ratings downgraded by Fitch Ratings

Thu, 18 May 2023 - 01:15 GMT

The banking sector saw a record net foreign liability position of $14 billion at the end of March 2023, with Fitch writing that “banks' ability to build up foreign assets was hampered by tight FC liquidity and the sovereign's high gross external financing requirements”

Domestic banking sector’s liquidity climbs 7.6% to reach LE 7.96 trn: CBE

Wed, 03 May 2023 - 10:55 GMT

The report also reveals that the total non-governmental deposits in local currency in banks increased to LE 5.614 trillion in March 2023, up from LE 5.411 trillion in December 2022, representing a growth rate of 3.8 percent

Egypt’s NFAs deficit climbs by 7.3 percent in March says CBE

Tue, 02 May 2023 - 04:23 GMT

Egypt's NFAs deficit surged by LE 536.2 billion ($17.33 billion) month-on-month (m-o-m) in March 2023

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.

Egyptian banking sector is strong, resilient in face of currency decline: Expert

Wed, 18 Jan 2023 - 01:07 GMT

He indicated that the compulsory reserve ratios for all Egyptian banks are in a good position, especially since there are decisions from 2017 to increase the compulsory reserve ratios from 4% to reach 14%, which puts banks in a better position.

Egypt's GAFI chief visits Qatar to discuss potential projects

Tue, 07 Jun 2022 - 05:41 GMT

Chairman of the General Authority for Free Zones and Investment (GAFI) Mohamed Abdel Wahab held a series of meetings in Qatar Monday to discuss new projects as well as existing ones.

Egypt: Penalties of Imprisonment, fines for illegal foreign exchange trading

Fri, 25 Mar 2022 - 12:42 GMT

The penalties were stipulated in Article 233 of the new Central Bank and Banking System Law. Also, the sums and items subject to illegal trading shall be confiscated.

In cooperation with Visa, Arab African International Bank celebrates the presence of the “TotalEnergies AFCON 2022” Trophy at t

Tue, 28 Dec 2021 - 01:14 GMT

Within the long cooperation between Arab African International Bank and Visa, the bank received the African Cup of Nations inside its headquarters on Thursday, December 9, 2021, on the occasion of the “TotalEnergies AFCON 2022”

CIB Business Banking Signs a New 5-Year Deal with Visa

Thu, 23 Sep 2021 - 01:28 GMT

The new strategic agreement will provide business banking customers with a host of financial and non-financial services for their businesses to thrive. By leveraging Visa’s digital solutions and technological capabilities, CIB can grow its current SMEs base while strengthening its value proposition.

Housing & Development Bank launches HDB Royal service addressed exclusively to wealth clients.

Thu, 16 Sep 2021 - 01:57 GMT

On Wednesday 16th of September, Housing & Development Bank (HDB) celebrated the launch of HDB Royal

Egypt's planning minister reveals percentage of women in bank boards

Mon, 08 Mar 2021 - 12:41 GMT

That was during her participation via video conferencing in the celebration of International Women's Day "Choosing a Challenge."

‘Builders of Egypt’ adopts building exports as theme

Tue, 11 Jun 2019 - 12:00 GMT

The fifth “Builders of Egypt” Forum themed “Building Exports as a New Future for Investment” will kick off on June 16.