Banking

The latest banking stories from Egypt and across the globe, by the Daily News Egypt banking team, including global insight and commentary on the top issues concerning this sector.
Latest Banking News

MSMEDA injects EGP 5.3bn to fund 247,000 projects in 2018

EGP 5.3bn were allocated to fund 247,000 small, micro projects, providing 395,000…

Hossam Mounir

Egypt’s foreign reserves down to 42.551bn in December: CBE

Egypt’s foreign currency reserves fell to $42.551bn in December, down from a…

Daily News Egypt

CBE’s interest rates consistent with aim of attaining single digit inflation once state’s fiscal consolidation programme ends: CBE

Measures to control country’s finances expected to temporarily affect private consumption recovery…

Hossam Mounir

NBE launches phase 2 of Al Ahly Net

Launching service comes within framework of NBE strategy pursued to activate decisions,…

Daily News Egypt

Foreign assets deficit continues to widen in banks

Exit of foreign capital from emerging economies trailed in October at slower…

Hossam Mounir

Credit facilities granted by banks to their clients increased by EGP 25.3bn in October

Private business sector covered for 61% of total credit facilities, industries among…

Hossam Mounir

EFG Hermes Leasing, HSBC team up to finance capital expansion of SMEs

Agreement supports CBE initiative to strengthen sector, raises its contribution to formal…

Daily News Egypt

MSMEs account for 75% of ABE’s loans portfolio by end October: chairperson

Bank pumped EGP 605m to 1,314 clients in CBE's initiative, says Elkosayer

Hossam Mounir

HDB profits scored EGP 1.393bn end September: chairperson

Bank's housing projects profits increased to EGP 370.3m end of September, up…

Hossam Mounir

United Bank shifting from losses to profits, earning over EGP 1bn: chairperson

Bank injected EGP 136m to 1,800 low- and middle-income mortgage financing clients,…

Hossam Mounir