Bank News
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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
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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.