Bank News
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NBE studying expansion into Saudi market
Bank collected $500m from foreign currency saving schemes.
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Egypt's Central Bank keeps key interest rates unchanged
Annual urban consumer inflation eased for the third consecutive month in March to 9 percent from 9.1 percent in February.
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Egypt's central bank sells $118.7 million at Tuesday auction
Egypt's public prosecutor is investigating several bureaus accused by the central bank of hoarding dollars.
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Egypt's foreign currency reserves slightly up in March
The central bank will repay $800 million to the Paris Club and the remaining $1 billion it owes to Qatar next July.
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NBK-Egypt posts $64m net profit, up 53pc
The net loans and advances reached EGP13.8 billion at year-end 2015, up 37.4 per cent compared to the previous year.
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Egypt banks to seek new chiefs under term limit rule
The central bank issued a nine-year term limit for banks top executives, described as an effort to revitalize the industry.
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Offering United Bank for sale still pending
CBE, other parties still studying issue of sale, we have not received instructions so far, says El-Kady.
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Egypt Bank Liquidity Seen Improving After Pound Devaluation
Egypt devalued its currency by about 13 percent at a local sale of greenbacks on Monday and said it would adopt a more flexible exchange rate.
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Egypt’s external debt hits $47.8 billion in 2015
Tuesday’s auction was the second consecutive day in which the CBE issued an exceptional tender to inject foreign currency liquidity into banks.
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Egypt's black market battle: CBE auctions another $1.5M
CBE will hold an exceptional dollar auction for $1.5bn on Wednesday to cover the outstanding debts importers owe to the banks in foreign currency.
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Egypt's public banks to issue Euro certificates for citizens abroad
Egypt's foreign currency reserves have declined by more than half since 2011, reaching $16.534 billion in February.
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Morocco's Attijariwafa Bank plans bid for Barclays' Egypt business
Attijariwafa, which already has a presence in 24 countries, including 14 in Africa, is interested in bidding for the Egypt business.
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CBE removes caps on foreign currency deposits
The CBE noted that the measures are meant to facilitate individuals’ transactions with banks operating in Egypt.
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Egypt cash reserves notch $16.53billion
Egypt’s reserve of foreign exchange increased from $33.16 billion at the end of October 2015 to the end of the $533.16 billion last February.
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Egypt's largest bank receives $700 mln loan from China
The NBE will repay the loan over eight years, including a three-year grace period.
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Egypt's CIB appoints former CBE governor Ramez as managing director
Ramez will serve as Vice-Chairman and Managing Director of Egypt's largest listed company.
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Egypt pound reaches record lows amid a dollar shortage
The central bank had directed local banks to prioritize giving dollars to pharmaceutical companies to import medicine and supplies.
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Egypt's central bank widens exceptions on import restrictions
The Central Bank of Egypt excluded manufacturing inputs from the requirement on importers to provide 100% cash deposits on their letters of credit.
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Egypt to float United Bank of Egypt
The United Bank was formed out of the merger of three failing banks which the central bank acquired in 2006.
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EBRD and Bank Audi strengthen small business in Egypt
EBRD continues to support SMEs in Egypt, providing a US$ 30 million to Bank Audi SAE Egypt for on-lending to SMEs.