The outstanding balances of treasury bills (T-Bills) and bonds (T-Bonds) owed by the government until the end of July 2019 amounted to EGP 1.97tn, according to the Ministry of Finance.
Banks working in the Egyptian market are considered the largest (...)
Nine private banks operating in the Egyptian market gained about EGP 14.941bn net profits during the first half (H1) of 2019.
According to the performance indicators of banks in Egypt during the last period, the Commercial International Bank (CIB) – (...)
Beltone Financial said July's inflation reading confirmed its view that the June's record low of 9.4%, despite its temporary nature, provided sufficient support for the expected inflationary pressures, which will have a strong impact on inflation (...)
Beltone Financial said Al Baraka Bank Egypt's financial statements for the second quarter (Q2) of 2019 showed good net income growth of EGP 271m, an increase of 27% year-over-year (y-o-y).
It added that compared to Q2 of 2018, the net income of the (...)
The Egyptian Arab Land Bank (EALB) and the Egyptian Banks Company signed a cooperation protocol under which the bank will issue Meeza cards.
The protocol was signed by Chairperson of EALB, Amr Kamal, and the company's Managing Director Tarek (...)
The Central Bank of Egypt (CBE) revealed on Tuesday that Egypt's net foreign reserves rose by $565m in the end of July 2019, to record $44.916bn, up from $44.352bn at the end of June 2019.
According to the CBE, Egypt's current net foreign reserves (...)
The Central Bank of Egypt (CBE) issued new standards for import and export of foreign currency surplus during its board of directors meeting on 5 August.
The CBE affirmed that these standards comes in the framework of the CBE's continuous endeavour (...)
The microfinance balances in Egypt increased to EGP 13.79bn until the end of June 2019, against EGP 9.74bn in June 2018, up 41.5%, the Financial Regulatory Authority (FRA) disclosed.
In its latest report, the FRA said the microfinance beneficiaries (...)
The Central Bank of Egypt (CBE) announced on Monday that its new risk-free interest rate benchmark CONIA became effective.
The new benchmark CONIA, standing for the Cairo Overnight Interbank Average, was developed by the Egyptian Money Market (...)
The Central Bank of Egypt (CBE) issued the External Position of the Egyptian Economy Report. The Report tracks, on a quarterly basis, the international transactions that the Egyptian economy conducts with the rest of the world. It highlighted that (...)
Banks operating in the Egyptian market are celebrating the International Youth Day as part of the Central Bank of Egypt (CBE) initiative “Youth Day”, one of CBE's steps to achieve financial inclusion. The banks' celebration lasts from 1 until 15 (...)
The Central Bank of Egypt (CBE) said Egypt's external debt remains within safe limits, in line with international standards.
In the external situation report of the Egyptian economy, the CBE pointed out that the foreign debt reached 35.1% of GDP at (...)
For the first time in its history, the Nasser Social Bank (NSB) achieves EGP 1.081bn profits in June 2019, compared to EGP 736m in June 2018, a growth of 47%.
Despite achieving these historical profits, the NSB's main objective is not making profits (...)
Nasser Social Bank (NSB) will start receiving underwriting offers for ATAA Charity Fund established by the bank to support persons with disabilities (PWDs) early August, Senior Vice Chairperson and Managing Director of NSB, Sharif Farouk, said on (...)
Egyptian Banks Company for Technological Advancement (EBC), revealed that the national payment card system "Meeza" users reached 1 million, EBC Managing Director Tarek Raouf announced.
He stressed that Egypt is moving steadily in developing the (...)
The Micro, Small, and Medium Enterprises Development Agency (MSMEDA) has injected EGP 260m to finance 35 urban and social development projects in Cairo (19) and Giza (16), Chairperson of MSMEDA, Nevine Gamea, announced on Monday.
It comes during a (...)
Tamweely Microfinance started implementing its expansion plans by activating a cooperation protocol with the National Postal Authority (NPA), in connection with launching company branches in the headquarters of NPA offices in several governorates of (...)
Chairperson of the board of directors of the Agricultural Bank of Egypt (ABE), ElSayed ElKosayer, promised that the bank will have a new role and form during the coming period.
In a special interview with Daily News Egypt, ElKosayer explained that (...)
Under the auspices of President Abdel Fattah Al-Sisi, the Egyptian Money Laundering and Terrorist Financing Combating Unit (EMLCU) will host the “Middle East & Africa Joint Typologies & Capacity Building Workshop” organised by the MENA Financial (...)
Vice Chairperson of the National Bank of Egypt (NBE), Yehia Aboul Fotouh, revealed an increase in total customer deposits to EGP 1,186bn at the end of June 2019, up by 17% from June 2018, and marking a market share worth 29%, which is the highest in (...)
The value of outstanding balance of treasury bills (T-Bills) owed by the government amounted to about EGP 1.201tn at the end of June 2019, the Ministry of Finance said.
In a recent report, the ministry explained that the outstanding balance of (...)
The National Bank of Egypt (NBE) injected EGP 162m to finance the first phase of the Roxy Smart Parking is a multi-storey automated underground parking, in Heliopolis, which was opened on Sunday.
The total cost of the first phase of this project is (...)
The net profit of the Faisal Islamic Bank of Egypt in the first half (H1) of 2019 amounted to EGP 1.376bn, up by EGP 36.624m from EGP 1.340bn in H1 of 2018, marking a growth of 2.7%.
The bank explained in a disclosure to the Egyptian Exchange (EGX) (...)
Banque Misr has opened two business development services (BDS) centres in its branches in Sadat and New Damietta cities.
The centres aim to support entrepreneurs, unleash the potential of young people, increase the number of small and medium-sized (...)
Mohamed Kafafi, chairperson and managing director of I-Score, revealed that the company is in the final stages of signing a cooperation protocol with the ministry of justice and the economic courts sector, to allow bankruptcy and reconciliation data (...)
