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The loan is for supporting banks’ capital base and for adjusting the capital adequacy rate
Nile Rating Company, specialised in SMEs, has merged in I- Score, said Kafafi
Banks are lowering limits of different types of cards and reducing hard cash granted to its clients when traveling
The Italian finance professor Claudio Zara calls for flexibility in eurozone rules covering government-financed bailouts in cases where banks’ bad-debt burdens were largely caused by economic downturns – as in Italy.
The CBE held 462 regular auctions to sell $19.382bn as well as nine exceptional auctions worth $7.397bn in less than four years
Banks’ investments in bills amount to EGP 471.358bn at the end of Q1/2016
CBE will not keep current rates and may be reversed in three months, given their negative effect, says analyst
Misused debit cards will be suspended immediately, says the head of one bank
Daily News Egypt sits down with Ashraf Al-Kady in his first interview since he assumed the role of chairperson for United Bank in March
Tourism income dropped to $6.1billion in 2015, compared to $7.3bn during 2014
Banks will watch the decision’s impact’s yield on treasury bills and bonds before deciding their interest rates, Abdel-Fattah
Household sector adds about $2.8bn to its foreign exchange deposits, increases its savings to about EGP 15bn in local currency
Dozens of organisations will receive donations, such as the Misr El Kheir Foundation, Magdi Yacoub Heart Foundation, 57357 Hospital, Orman Charity Association, and Resala
There are doubts about the banks’ abilities to continue this exceptional performance during the second and third quarters due to lack of foreign currency, poor commercial financing, and decline in lending loan rates
Previous disputes between banks and the Egyptian Tax Authority on the definition of banking services are behind banks’ unwillingness to abide by VAT, says FEB adviser
Industry at forefront of economic sectors funded by banks followed by services, while the agriculture sector came last
The CBE sold US dollars at a fixed price of EGP 9.78. Banks have been directed to sell the US currency to their customers at a price of EGP 8.88
Top ten banks acquire 72.4% of total deposits, 67.6% of loans, from among 40 banks operating in local market
The Central Agency for Public Mobilization and Statistics (CAPMAS) issued on Thursday its annual bulletin of statistics and financial indicators for banks, insurance, currency exchange, and brokerage companies for fiscal year (YR) 2014/2015.
Only 5 percent of international bailout money for Greece was used to kickstart the country’s languid economy, a new study has found. The rest was used to pay back private creditors, many of which were banks.
Seven major global banks have settled a lawsuit in the United States accusing them of market manipulation. They were suspect of colluding to rig the daily benchmark for interest rate exchange contracts.
Non-performing loans fell to 6.8% of total, 99% of which are covered by provisions
Moody’s forecast of Egypt’s economic growth is lower than the government’s predictions
Banks were granted this amount at a price of EGP8.78 to the dollar. Banks will sell to clients at a price of EGP8.88 to the dollar
Foreign institutions require high return interest rates of 5.5%, which is unsuitable for banks, says ADIB Capital CEO
The capital conservation buffer ratio is intended to strengthen a bank’s main capital base to ensure a bank can cover losses that may arise during periods of economic or financial crisis
CBE said in a statement on Monday that it had monitored some individuals who made large cash deposits in foreign currencies, and used them to import non-essential goods and products through companies, which is a circumvention of the controls
The CBE allowed banks three years to adjust to this decision
The Egyptian Tax Authority demanded that banks operating in the domestic market register for the VAT
National Bank of Egypt, Banque Misr, Banque du Caire, and Housing and Development are the most active banks in the housing purchasing initiative