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Two gunmen on a motorcycle opened fire on the policemen, who were guarding the HSBC and Union National Bank branches in Sphinx square in Mohandesin, Giza.
Vice president denies 9 banks have offered purchase
A policeman was killed and another injured in a drive by shooting in Giza Saturday morning, according to state news agency MENA. The attackers escaped. Two gunmen on a motorcycle attacked and opened fire on policemen guarding HSBC and Union National banks branched in Sphinx square in Mohandesin, Giza. The attacks resulted in the killing …
Decline mainly due to the repayment of accrued deposits to Qatar, claims economist
The value of the first instalment is estimated to be approximately EGP 1.9m
Daily transaction rate has gone up from 1,000 per day by the end of 2009 to over 1m, says CPIO
Al-Sisi to promote political, economic, and legislative changes in year-end foreign tour
CIB Q3 net profit rises 5.6% Egypt’s leading bank, Commercial International Bank (CIB), reported a 5.6% rise in the third quarter (Q3) net profit. The bank added that the net profit stood at approximately EGP 972m, up from EGP 920.4m in the same quarter last year. Q3 consolidated revenues were EGP 2.04bn, up 17% from …
Awards confirm their position as a “reference private bank”, say Wealth Management co-CEOs
Expansion brings bank’s total number of ATMs to 286 across the country
Egyptian banks set aside 2% of profits for 2012 to develop slums in different areas across Egypt
Investment bank EFG Hermes makes EGP 20m donation to the fund
Following the presidential approval of the Suez Canal investment certificate law, protocol to be signed between CBE, four public banks and the Suez Canal Authority
Daily News Egypt takes a closer look into the banking sector’s performance over the past fiscal year, with examples of the financial results of state-owned, private and Islamic banks
$0.5bn repaid to Qatar at beginning of October, said Hisham Ramez
The Daily News Egypt defines what credit cards are, analyses their presence in Egypt and interviews several experts on the matter.
Bureaucracy, complicated investment legislation, and administration corruption are the main stumbling blocks to economic reform, several heads of banks said during the People and Banks Conference last Wednesday. Participants in the conference discussed how to work to restore investor confidence in the Egyptian market in order to transform it into a magnet for Arab and …
The size of non-cash transactions in Egypt has reached approximately 7%, the head of business at MasterCard Egypt said during the People and Banks conference on Thursday. He added that non-cash transactions have reached “90% in France and Belgium, 80% in America, 60% in Korea and Japan, 30% in the UAE, 20% in Saudi Arabia, …
Central bank says loans granted to the government slumped by EGP 739m, while amount loaned to non-governmental sector increased by EGP 4.39bn
Telecom Egypt, Ezz Steel, and Cemex Egypt among top tax paying companies
Some of the Western bankers, money managers and oil traders who help keep that money moving are unconvinced sanctions will have a truly significant effect.
Daily News Egypt interviews the General Manager of Visa in the North and Francophone Africa region Tarek Elhousseiny
The bank announces three loan programmes divided by project size
NBD aims to enhance and strengthen ties between Egypt and the UAE, says NBD chairman
Denmark’s foreign ministry held a special briefing for about 130 companies, including drugs firm Novo Nordisk and brewer Carlsberg on Friday after being inundated with inquiries about the business implications of the crisis.
EBI conference this year encourages banks to adopt more sustainable practices
“What matters for banks is the ability to meet deadlines for loan repayments,” says former Chairman of Misr Iran Development Bank
The banking sector has been a source for filling financial gap of public authorities through granting them loans. Although experts stated that this initiative may be “politically motivated”, they stressed that banks always have reserves for loans.
Fitch believes that impairment charges should fall, leading to a gradual improvement in profitability, although further recovery in asset quality will depend on continued economic growth.
Boraie says decision was made to retain ability of sectors to compete with private sector