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The EGX has announced the sealing of the deal, worth $494.997m, on Tuesday
The start-ups were Bees365, Card Switch, Save it, Olly, Yala Nsadar, Carsurance, Entej, and Moneyfellows
Barclays Bank PLC agreed to sell its retail and corporate banking business in Egypt to the Moroccan Attijariwafa Bank
The plan includes five pillars, the most important of which is the expansion in lending for huge projects and multi-national companies and focusing on financing SMEs, said Sherif
We want to have a good position in financing SMEs first, we do not know the strategy of the bank’s new buyer, said El Behery
EGP 1bn achieved in SMEs financing portfolio as of March
Global Barclays Group decided to exit from the Egyptian market after about 150 years of presence as part of a plan developed by the group aims to sell some of its units in Africa and Europe
According to Barclays Africa Regional Management Chief Executive Mizinga Melu, Sakr’s appointment came as a result of her extensive experience in the banking sector.
Assets inched up 3% to total EGP 18.5bn, while expenses surged to EGP 14%
Bank gained half a million new customers in retail banking
In 2014, 785 employees volunteered over 3,000 hours of their time and skills in communities, says Community Relations manager
Barclays deposits portfolio is at EGP 14bn, and bank aims to raise it to 10% by the end of this year
Bank plans six new branches over next two years
Daily News Egypt speaks with Omar Baig, Retail Banking Director of Barclays Bank Egypt, the winner of Best Credit Card Product in Africa award for 2014.
Barclays had originally targeted EGP 5bn by the end of 2014, with the bank also targeting a EGP 2bn increase in its retail banking portfolio by the end of the year.
“Superfans” and legends strapped up to heart rate monitors to measure their passion for the game
The bank achieved a rate of return on equity of 19% in comparison with the same period in 2013, in addition to an increase in the rate of return on assets which rose from 2.5% to 3.1%.
Reuters – Barclays has agreed to sell its retail banking operations in the United Arab Emirates to Abu Dhabi Islamic Bank (ADIB) for an expected price of AED 650m ($177m), ADIB said on Sunday. The emirate’s largest Islamic bank said it aimed to acquire 110,000 customers through the deal, helping it expand into serving expatriates, …
Thousands of fans turn out to support their BPL teams at “the ultimate fan experience” event
“Barclays Direct” is one of the leading initiatives allowing the blending of financial services for both clients and commercials, which enables the bank to attain its strategy of being an integrated bank through expanding the clients’ accounts, enhancing Barclays Egypt’s market competitiveness.
The errors, which date back to October 2008, could spark refunds totalling up to £100m ($159m, 119m euros), according to The Times newspaper.
CIB rated as most efficient, followed by NSGB, while HSBC places third due to its refusal to disclose information on its non-performing loans
Egypt’s market is also attracting attention from Gulf banks
By Rasheed Hammouda No event more perfectly captures the changing relationship between the Gulf powers and their western counterparts than the ongoing investigation into the 2008 Barclays bailout by Qatar. It was reported earlier this year that the nearly year-long investigation by the UK’s Financial Services Authority and Serious Fraud Office has turned to investigating …
Employees have expressed disapproval over Qatar National Bank’s acquisition of 100% of NSGB, and are to stage a protest on Monday to denounce the agreement
EFSA has approved QNB’s offer of EGP 38.65 per share for 100% of NSGB’s shares
Barclays said that Agius, who has chaired the bank for six years, would remain in his post until a successor was found
(Reuters) – Major ratings downgrades by Moody’s will further divide the world’s biggest banks based on their strength and access to cheap customer deposits. The ratings, released Thursday by Moody’s Investors Service, gave a competitive advantage to “safe-haven” banks that fund themselves with stable, low-cost customer deposits, while worsening the outlook for weaker banks that …