Banque Misr's strategy for the current fiscal year 2013/2014 targets expanding in financing small and medium enterprises (SMEs). The second-largest bank in Egypt seeks financing portfolio for SMEs to total EGP 1.5 billion by the end of FY2013/14, (...)
Banque Misr intends within 2014 to pump 4 billion Egyptian pounds in a number of joint funding processes, designated for sectors of telecommunications, petrochemicals and fertilizers besides a number of infrastructure enterprises.
Speaking to Amwal (...)
Arab Banking Corporation – Egypt (ABC) is targeting the activation of the Bancassurance service by next year. This comes as the Central Bank of Egypt had decided to re-launch the bancassurance system earlier this year during the first half.
Akram (...)
An Official source in the Federation of Egyptian Banks (FEB) revealed that the Federation will adopt a number of fundamental lists in the banking sector, most notably, the development of e-payment service system file and the supporting of small and (...)
Telecom Egypt (TE)(ETAL-CA) has signed new agreement with the National Bank of Egypt (NBE) in order to update the information network which affiliated to the bank through using developed network based on fiber-optic technology with total value up (...)
Supervisor at the Financial sector of Banque Du Caire ,Shaker Osman, has revealed that his bank is aiming to boost the loans portfolio and granted facilities of the customers to reach EGP 25.8 billion by the end of the next of December2013, against (...)
Egyptian property developer Talaat Moustafa Holding (TMG) (TMGH.CA) affirmed on Wednesday its ongoing talks with 3 local banks over a long-term loan worth EGP 1.8 billion to finance the establishment of a mall in New Cairo.
This comes after Amwal Al (...)
Talaat Moustafa Group Holding Co. S.A.E. (TMG Holding) (TMGH.CA), Egypt's biggest listed property developer, is currently holding negotiations with a number of local banks seeking to obtain a long-term co-financing worth EGP 1.8 billion. The Group (...)
Ahli United Bank has recently joined the banking consortium led by the National Bank of Egypt (NBE) and Banque Misr to arrange EGP 725 million syndicated loan to El Nasr Company for Coke and Chemicals, subsidiary of the Metallurgical Industries (...)
The National Bank of Egypt (NBE) is considering to grant credit facilities worth EGP 250 million for Building Materials Industry Company (BMIC) which affiliated to Egypt Kuwait Holding Co SAE (EKHO.CA).
An official source in NBE said the company is (...)
The current settlement between the Egyptian government represented in Ministries of Investment, Housing and the UAE-based Al-Futtaim Group is threatened to fail due to watchdog reports regarding violations worth billions of Egyptian pounds due to (...)
The Central Bank's activation of bank insurance supports the sector's growth rates for the upcoming years.
The Egyptian economy is going through a temporary “stumble" and its impact upon insurance does not appear yet.
Enacting laws for private (...)
Misr Life Insurance Company achieved premiums of EGP 1.307 billion in the first nine months of FY 2012/2013, compared to EGP 1.139 billion in the compared period, registering a growth rate of 14.8%.
The company's direct individual premiums reached (...)
The National Bank of Egypt (NBE) has no relation with the arrest of Ayoub Adly Ayoub, chairman of Remco for Touristic Villages Construction, who was prevented from traveling to London today morning, sources affirmed.
NBE has not taken any legal (...)
The National Bank of Egypt (NBE), Al Baraka Bank of Egypt and Arab African International Bank (AAIB) will turn down the offer presented by Ayoub Adly Ayoub to settle the bad debts of Rami Lakah, chairman of the Holding Company for Financial (...)
The National Bank of Egypt (NBE) delayed repayment of EGP 400 million worth of debts owed by customers in the tourism sector to the beginning of 2014, Yehia Abul Fotouh, head of the debt recovery and restructuring sector at NBE, said.
Delaying the (...)
Mohamed Barakat, chairman of Banque Misr, has been named the chairman of Union of Arab Banks for a three-year term, following Adnan Youssef, chairman of Al Baraka Banking Group.
Sources said Barakat was selected by the Union's general assembly to (...)
Hisham Ezz El-Arab, managing director of the Commercial International Bank (CIB), has been named the chairman of the Federation of Egyptian Banks, to be the first one who is not a chairman of a bank and holds this position.
FEB's general assembly (...)
Hill International manages the construction of a number of projects in Egypt with investment cost of more than EGP 2 billion most notably; Qatar's Barwa project, Grand Egyptian Museum, Nile Ritz Carlton Hotel, Crédit Agricole's headquarters, Porto (...)
Eng. Ibrahim Hassan, Chief Executive Officer of Kuwadico, which established by Kuwait's National Real Estate Company (NREC) in a joint partnership with Egypt's Wadi El Nil Company, has unveiled that the company finished 60% of the infrastructure of (...)
Ayman Ismail, Chairman, Dar Al Mimar Group-Mountain View Egypt, has revealed that his company is owning various portfolio of lands in New Cairo Compound 5 ,sixth October, Ain Sokhna, North Coast and Ras Sudr and these lands are enough for the (...)
The UAE-based international real estate firm, Al-Futtaim Group will be soon signing the final settlement agreement with the Egyptian government over the Cairo Festival City, the General Manager Mohamed El Mikawi said.
El Mikwai said he expects the (...)
The Kuwait Finance House (Beitak) expressed an interest to subscribe US$ 3 billion of Egypt's debut sukuk which will be issued after the sukuk law is approved, sources said.
The Egyptian Ministry of Finance has received many offers from (...)
Banque Du Caire has approved to offer credit facilities worth EGP 250 million to finance the working capital of a company of food industries specialized in wheat and fodder.
The bank has also approved to offer credit facilities worth US$ 34 million (...)
Sources at the National Bank of Egypt (NBE) denied what was announced by the Ministry of Interior on Tuesday that masked men attempted to storm the bank's branch in Masr al-Qadima today. Sources affirmed that the employees at the bank did not hear (...)