Bank News
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Lebanon's Bank Audi aims to double Egypt earnings by 2017
Audi plans to add 20 branches in Egypt over the coming three years, building on its existing 34, which employ 1,137 staff.
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HSBC dismisses employees, management in Egypt remains silent
According to a bank statement, 8,000 employees out of 48,000 employees who work in the bank’s UK branches will be affected.
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Egyptian lender CIB to buy Citi's Egypt retail business
The U.S. bank said last October that it was pulling out of consumer banking in 11 markets, including Egypt and Japan, to cut costs.
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CIB receives 5 international awards in 1H of 2015
There are abundant opportunities across Egyptian market, says Chairman.
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Kuwait’s Burgan Bank to consider expanding in UAE, Saudi, Egypt
The bank did not expect to make any acquisitions this year, but said that it would at some later date as a number of foreign banks in the Middle East pulled out.
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National Bank Egypt the fastest growing : Business News index
NBE has most customer satisfaction, 255 companies take part in the evaluation, Emirates NBD is third best bank.
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Global banking is HSBC’s priority in Egypt: Blanchet
HSBC launched in April its second International Growth Fund, worth EGP 300m, to support SMEs.
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ABG Egypt unit income surges 21pc
Total financing and investments portfolio grew by 4pc to reach $2.6bn by the end of March this year.
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Egypt's CIB bank Q1 net profit up 38 pct year-on-year
CIB had in 2014 posted a 36 percent rise in net profit for the full year.
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Faisal Islamic Bank’s volume of business increases 10%
Meanwhile the bank’s net profits reached EGP 196.97m in the first quarter of 2015, compared to EGP 172.3m during the same period in 2014.
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Egypt's Crédit Agricole posts 60% higher profits in Q1
Profits rose to LE236 million in the first quarter of this year, compared to LE147.6 million in the same period last year.
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Mashreq Bank expands in Egyptian retail banking market
New initiatives to be launched this coming year to enhance services.
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CIB Starts Due Diligence on Citigroup’s Egypt Retail Business
Citigroup is exiting its consumer banking business in 11 countries to focus on markets with great scale and growth potential.
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Barclays African Unit May Buy Parent’s Zimbabwe, Egypt Banks
Barclays bought its parent company operations in 8 African countries.
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Egypt ready for change in a cash economy
Cash still dominates the Egyptian consumer economy. It accounts for an estimated 94 per cent of financial transactions in the country.