BANKING

15 Oct 2018

NPLs fall to 4.3% of total loans at end June 2018: CBE

The ratio of non-performing loans (NPLs) at banks operating in the Egyptian market fell by the end of June 2018 to 4.3% of total loans, down from 4.5% in March 2018, and 4.9% in December 2017, according to the Central Bank of Egypt (CBE).

In"...

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15 Oct 2018

WB to invest $45bn in Africa over next three years

The World Bank (WB) Group will invest $45bn in Africa over the next three years to develop education programmes, basic health services, clean water, sanitation, agriculture, and the business climate and infrastructure, said Jim Kim, President of the WB, according to a statement issued on"...

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13 Oct 2018

Dollar price stable at major Egyptian banks

Cairo: The exchange rate of the US dollar was relatively stable during morning transactions on Thursday at major banks.

The dollar exchange rate settled at EGP 17.78 for buying and EGP 17.88 for selling at the"...

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11 Oct 2018

QNB- Alahli profits jump to LE5.4 bn in 9 months

ArabFinance: Qatar National Bank Alahli (QNBA)announced in a statement sent to EGX, the audited financial results for the fiscal period starting January 1, 2018, and ending September 30, 2018.

The company posted"...

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10 Oct 2018

QNB Group: Financial Results for the Nine Months Ended 30 September 2018

QNB Group, the largest financial institution in the Middle East and Africa (MEA) region, announced its results for the nine months ended 30 September 2018. For the nine months ended 30 September 2018, Net Profit reached QAR10.8 billion (USD3.0 billion), up by 6% compared to same period last year, despite the impact of the Turkish Lira devaluation. Total assets increased to QAR853 billion (USD234 billion), up by 8% from September 2017.The key driver of total assets growth was from loans and advances which grew by 4% to reach QAR604 billion......

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09 Oct 2018

Net foreign reserves increase by $40m, reaching $44.459bn by end of September: CBE

The foreign net reserves at the Central Bank of Egypt (CBE) increased by $40m, to reach $44.459bn, at the end of September, compared to $44.419bn at the end of August, according to a statement released on Monday.

This"...

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08 Oct 2018

Export Development Bank shareholders to review statements-Egypt

ArabFinance: The Export Development Bank (EXPA) declared in a statement sent to EGX, it called for the ordinary and extraordinary general assembly meetings to be held on October 08.

The OGM will discuss the financial"...

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08 Oct 2018

NBE ranks as first bank in Egypt for syndicated loans: Bloomberg

Bloomberg’s global banking survey in the third half of 2018 ranked the National Bank of Egypt (NBE) as the first bank in Egypt for syndicated loans, during which the bank played arranger and bookrunner.

On"...

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08 Oct 2018

Egypt roadshow to promote bonds in South Korea

Egypt launched a roadshow in South Korea as part of an effort to promote international bonds in Asia and Europe, announced the Finance Ministry during a press statement on Sunday.

In September, Egypt’s Minister"...

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07 Oct 2018

Egypt signs agreement with CI Capital, Jefferies bank, Emirates NBD to manage ENPPI’s IPO

Egypt’s Ministry of Petroleum announced on Friday, the signing of an agreement with three banks to manage the sale of a 24% stake in state-owned oil company Engineering for Petroleum and Process Industries (ENPPI) on the Egyptian Exchange.

The"...

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