Masress : Suez Canal Bank general assembly re-elects board of directors headed by Hussein Refaei

Egypt fast-tracks recycling plant to turn Suez Canal into 'green canal' Global pressure mounts on Israel as Gaza death toll surges, war deepens Egypt targets 7.7% AI contribution to GDP by 2030: Communications Minister Irrigation Minister highlights Egypt's water challenges, innovation efforts at DAAD centenary celebration Egypt discusses strengthening agricultural ties, investment opportunities with Indian delegation Al-Sisi welcomes Spain's monarch in historic first visit, with Gaza, regional peace in focus Cairo governor briefs PM on Khan el-Khalili, Rameses Square development El Gouna Film Festival's 8th edition to coincide with UN's 80th anniversary Egypt expands medical, humanitarian support for Gaza patients Egypt condemns Israeli offensive in Gaza City, warns of grave regional consequences Cairo University, Roche Diagnostics inaugurate automated lab at Qasr El-Ainy Egypt investigates disappearance of ancient bracelet from Egyptian Museum in Tahrir Egypt launches international architecture academy with UNESCO, European partners Egypt signs MoUs with 3 European universities to advance architecture, urban studies Egypt's Sisi, Qatar's Emir condemn Israeli strikes, call for Gaza ceasefire Egypt condemns terrorist attack in northwest Pakistan Egyptian pound ends week lower against US dollar – CBE Egypt hosts G20 meeting for 1st time outside member states Egypt to tighten waste rules, cut rice straw fees to curb pollution Egypt seeks Indian expertise to boost pharmaceutical industry Egypt prepares unified stance ahead of COP30 in Brazil Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken' Egyptian, Ugandan Presidents open business forum to boost trade Egypt's Sisi, Uganda's Museveni discuss boosting ties Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance Greco-Roman rock-cut tombs unearthed in Egypt's Aswan Egypt reveals heritage e-training portal Sisi launches new support initiative for families of war, terrorism victims Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary Germany among EU's priciest labour markets – official data Paris Olympic gold '24 medals hit record value A minute of silence for Egyptian sports Russia says it's in sync with US, China, Pakistan on Taliban It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights Sudan says countries must cooperate on vaccines Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19 Egypt to tax bloggers, YouTubers Egypt's FM asserts importance of stability in Libya, holding elections as scheduled We mustn't lose touch: Muller after Bayern win in Bundesliga Egypt records 36 new deaths from Covid-19, highest since mid June Egypt sells $3 bln US-dollar dominated eurobonds Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform

Thank you for reporting!

This image will be automatically disabled when it gets reported by several people.

Suez Canal Bank general assembly re-elects board of directors headed by Hussein Refaei
New retail banking sector to be established to create diversity in bank's products, broaden its client base, Refaei says

Hossam Mounir Published in Daily News Egypt on 16 - 04 - 2018

The general assembly of Suez Canal Bank has re-elected the bank's board of directors, headed by Hussein Refaei for three years.
The board of directors includes Hussein Refaei, Tarek Helmy, Mohamed Abdelaal, and Omar Al-Radiny as representatives of Arab International Bank.
The board also includes Omar El-Saghir, Mohamed Abo Senina, and Ramadan Al-Amrousy as representatives of Libyan Foreign Bank.
Additionally, the members of the board also include Mohab Mamish, representing the Suez Canal Authority's insurance fund, in addition to Mohamed El-Bashoty, representing the insurance fund of the workers at Arab Contractors, and Ahmed Omran, representing Arab World for Financial Investments, alongside Mamdouh Soliman, representing himself.
Near the end of the assembly, the bank's new board of directors held a meeting where Hussein Refaei was elected chairperson and managing director of the bank, and Omar El-Saghir was elected vice chairperson and managing director.
The bank's general assembly also approved the business results for the year 2017. One of the most important indicators within the results was the bank achieving EGP 356m in net profits, a growth of 70% compared to 2017. The net revenue increased to EGP 1bn, a growth of 25.2%. The revenue on property rights rose to 16%, a growth of 46% compared to 2016.
The performance indicators of the bank revealed its total budget reached EGP 40bn at the end of 2017, an EGP 8.6bn increase compared to 2016, a growth of 27%.
Clients' deposits at the bank reached EGP 31.3bn at the end of 2017, a growth of 30% compared to 2016. Net loans and facilitations provided to clients reached EGP 10.2bn a growth of 19%.
According to Refaei, the bank added a new retail banking sector in an attempt to diversify its products as well as broaden its client base. It has also established a sector to fund small and medium enterprises (SMEs), in accordance with the state's efforts to support that sector.

Clic here to read the story from its source.