Bank News
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45% of ME companies encountered malware in 2015
Trojan attacks doubled in comparison to the same period in 2014. The attacks’ severity increased targeting the commerce and banking service sectors.
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Egypt's Ramez named best central bank governor in MENA
He was praised by the IMF and the World Bank for taking measures to improve Egypt's economy.
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Egypt becomes focus of world’s attention
Banque Masr Chairman states that Egypt is a promising market for investments using new Suez Canal as an example.
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Egypt's CBE approves CIB's acquiring of Citibank
The deal includes Citibank's retail portfolio and credit card businesses.
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Kuwait's Al Ahli gets Egypt regulatory nod to buy Piraeus unit
Kuwait's Al Ahli Bank received approval from the Egyptian Financial Supervisory Authority to acquire a controlling stake in Piraeus Bank's Egypt unit.
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CIB seeks to attract Vodafone, Etisalat to Automated Clearing House service
CIB-Egypt serves ACH-Credit clients operating in 16 fields, including oil, telecommunications, e-marketing, cement, universities, electricity...etc.
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14 direct benefits for Egyptian economy due to Suez Canal projects
Banks should exert more effort to support development instead of focusing on financing budget deficit, says Ezz El-Din Hassanin.
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NBE postpones issuance of international bonds
Bank repays bonds, amounting to $600m, which it offered in August 2010.
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QNB Al Ahli, EBRD set $100m for SMEs in Egypt
EBRD provides QNB Al-Ahli with $40m for trade facilitation.
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Barclays Africa hastens talks to buy banks in Egypt
Barclays Africa Group Ltd said talks to buy its parent company’s operations in Egypt and Zimbabwe have been accelerated following management changes.
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NBE launches first interactive teller machine in Egypt
The National Bank of Egypt has launched the first interactive teller machine (ITM) in the Egyptian market, according to Alaa Farouk, Head of Retail.
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Egypt's bourse, banks to close on Thursday for July revolution anniversary
Trading will resume on the following Sunday, the stock exchange said in its statement.
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CBE to resume issuing dollar sale tenders to banks Tuesday
Stability of US dollar rate against Egyptian pound stands between EGP 7.78 and EGP 7.83 in banks and at EGP 7.88 at exchanges.
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Kuwait bank NBK targets Egypt growth
NBK originally bought into the North African country in 2007 and now has around 30 branches mostly in Cairo and Alexandria, according to its website.
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Moody's upgrades Egypt's banking system's outlook to stable
Moody's expects those changes to lead to rising consumer confidence and more business investments, which would increase loan growth from banks.
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Egypt's Banque Misr to raise $500 mn via bond sale
Banque Misr, Egypt's second-largest state bank, plans to raise $500 million via a dollar-denominated bond on international markets within three months
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Egypt's central bank governor says pound depreciation not worrying
Ramz: There is nothing to worry about from the dollar's rise. This is a normal movement. It only moved 2.5 percent and this happens in many markets.
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NBG-Egypt continues activities unaffected by Greek banks’ closure
“We work under the umbrella of the CBE and our clients did not make any withdrawals,” says bank official.
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Banque Misr celebrates 95th anniversary
Egypt’s first bank, Banque Misr was established by Talaat Harb.
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Egypt bank to unseat Standard Chartered
Egypt’s economic output this year may jump to 4.2 percent, about double the average annual rate of growth since the uprising that ousted Hosni Mubarak