By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Popular video-sharing app TikTok was granted by the U.S. government a 15-day extension to reach a deal with U.S. buyers, a federal court filing showed Friday. This means the deadline for ByteDance, TikTok's Chinese parent company, to reach a deal with Oracle and Walmart has been extended from Nov. 12 to Nov. 27, according to the U.S. District Court for the District of Columbia.
    TikTok updates its community guidelines
    March 23, 2023
    IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses
    IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses
    March 23, 2023
    Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
    Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
    March 23, 2023
    EFG Hermes records EGP 11bn revenue in FY22
    EFG Hermes records EGP 11bn revenue in FY22
    March 23, 2023
    Egyptian Environment Minister discusses cooperation with WFP representative in Cairo 
    Egyptian Environment Minister discusses cooperation with WFP representative in Cairo 
    March 23, 2023
  • Politics
    PoliticsShow More
    Egypt's Health Minister discuss bilateral cooperation with an Italian delegation 
    Egypt’s Health Minister discuss bilateral cooperation with an Italian delegation 
    March 23, 2023
    Egypt’s foreign minister phones Algerian counterpart over boosting ties
    Egypt’s foreign minister phones Algerian counterpart over boosting ties
    March 22, 2023
    Turkish President  Recep Tayyip Erdoğan and Egypt President Abdel-Fattah Al-Sisi met in Doha
    Opinion| Türkiye and Egypt: For better times with many opportunities
    March 22, 2023
    Drought caused 43,000 deaths in Somalia in 2022: UN
    Drought caused 43,000 deaths in Somalia in 2022: UN 
    March 22, 2023
    Opinion| The Chinese dragon occupies America's place in the Middle East
    Opinion| The Chinese dragon occupies America’s place in the Middle East
    March 22, 2023
  • Interviews
    InterviewsShow More
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    March 15, 2023
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    March 12, 2023
    EGX ready for government’s IPOs programme: Chairperson
    EGX ready for government’s IPOs programme: Chairperson
    February 15, 2023
    British International Investment invests $4.5bn in 700 businesses across Africa: Sherine Shohdy
    February 15, 2023
    Valeo has invested around €0.5bn in Egypt over the past 10 years: CEO
    Valeo has invested around €0.5bn in Egypt over the past 10 years: CEO
    December 27, 2022
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Credit facilities for 100 largest bank clients increase to EGP 603bn: CBE
Share
Notification
Latest News
Popular video-sharing app TikTok was granted by the U.S. government a 15-day extension to reach a deal with U.S. buyers, a federal court filing showed Friday. This means the deadline for ByteDance, TikTok's Chinese parent company, to reach a deal with Oracle and Walmart has been extended from Nov. 12 to Nov. 27, according to the U.S. District Court for the District of Columbia.
TikTok updates its community guidelines
Business
Strong representation of women in TV series of Ramadan 2023
Strong representation of women in TV series of Ramadan 2023
Culture Cinema
IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses
IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses
Business
Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
Business
EFG Hermes records EGP 11bn revenue in FY22
EFG Hermes records EGP 11bn revenue in FY22
Business
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Politics > Credit facilities for 100 largest bank clients increase to EGP 603bn: CBE
Politics

Credit facilities for 100 largest bank clients increase to EGP 603bn: CBE

Hossam Mounir
Last updated: 2023/01/03 at 12:24 PM
By Hossam Mounir 4 Min Read
Share
Credit facilities for 100 largest bank clients increase to EGP 603bn: CBE
SHARE

The Central Bank of Egypt (CBE) has revealed that the credit facilities granted to the largest 100 borrowers in the public and private business sectors amounted to about EGP 603bn in June 2022, with a growth rate of 18.8% compared to June 2021.

In its recent financial stability report, the Central Bank stated that these facilities are concentrated in 17 sectors, with 6 sectors accounting for 74.6%.

According to the CBE, the construction sector came with a rate of 23.7%, then the oil, natural gas and petrochemical sector with a rate of 14.4%, then the real estate development sector with a rate of 10.8%.

In fourth place came the iron and steel sector with a rate of 9.9%, then the non-banking financial sector with a rate of 9.4%, then the communications and information technology sector with a rate of 6.4%.

In a related context, the Central Bank revealed the pumping of EGP 13bn to finance small breeders through banks within the national project to revive veal.

The Agricultural Bank of Egypt was allowed to finance cooperative societies working in the field of agriculture, agricultural processing, dairy, fodder, poultry and livestock, within the framework of the Small Projects Initiative.

The Central Bank announced the financing of small farmers working in the field of raising female livestock, milk collection centres and poultry farms within the framework of the Small Projects Initiative.

The Central Bank said that EGP 55.5bn has been allocated through some banks in the form of interest-free good loans to be paid over 10 years as part of the national initiative to develop irrigation and convert to modern opinion.

In another matter, the Central Bank revealed the role of the banking sector in supporting the Hayah Karima Initiative, which was coordinated with the Ministry of Planning to participate in the first phase of the initiative, with the participation of a number of banks, through improving and developing the financial infrastructure in those villages, and raising awareness and financial education for citizens on the importance of financial inclusion and the provision of banking products and services.

According to the Financial Stability Report, the banking sector, during the first phase of the initiative and until June 2022, pumped EGP 2.3bn in financing for small and micro development projects.

Banks also deployed 380 ATMs, opened 36,000 bank accounts, made available 4.8,000 QR codes and points of sale that were distributed to merchants, developed 71 branches and established 10 new bank branches.

During the initiative, 9,200 new mobile phone wallets and 70,200 prepaid “Meeza” cards were opened.

11 banks are participating in the initiative, which are the National Bank of Egypt, Banque Misr, Banque du Caire, the Agricultural Bank of Egypt, QNB Alahli, the Commercial International Bank, the United Bank, the Housing and Development Bank, the Egyptian Export Development Bank, and Alex Bank.

You Might Also Like

Egypt’s Health Minister discuss bilateral cooperation with an Italian delegation 

Egypt’s foreign minister phones Algerian counterpart over boosting ties

Opinion| Türkiye and Egypt: For better times with many opportunities

Drought caused 43,000 deaths in Somalia in 2022: UN 

Opinion| The Chinese dragon occupies America’s place in the Middle East

TAGGED: CBE, credit facilities
Share this Article
Facebook Twitter Email Print
Previous Article State exits 62 economic activities to leave room for private sector: Finance Minister State exits 62 economic activities to leave room for private sector: Finance Minister
Next Article Tamweely launches new app to enhance communication with customers Tamweely launches new app to enhance communication with customers
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Popular video-sharing app TikTok was granted by the U.S. government a 15-day extension to reach a deal with U.S. buyers, a federal court filing showed Friday. This means the deadline for ByteDance, TikTok's Chinese parent company, to reach a deal with Oracle and Walmart has been extended from Nov. 12 to Nov. 27, according to the U.S. District Court for the District of Columbia.
TikTok updates its community guidelines
Business
Strong representation of women in TV series of Ramadan 2023
Strong representation of women in TV series of Ramadan 2023
Culture Cinema
IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses
IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses
Business
Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
Business
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?