amwalalghad :: Banks

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GMC GROUP FOR INDUSTRIAL COMME   1.29        Telecom Egypt   11.48        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Modern Company For Water Proof   1.03        Egyptian Real Estate Group   6.85        Pioneers Holding   2.84        Ezz Steel   7.86        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        Naeem Holding   0.19        Egyptian Iron & Steel   6.87        Universal For Paper and Packag   4.94        Northern Upper Egypt Developme   4.93        Canal Shipping Agencies   7.39        Misr Chemical Industries   5.65        United Arab Shipping   0.43        Egyptians Housing Development    1.94        Egyptian for Tourism Resorts   0.69        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        Heliopolis Housing   21.65        Raya Holding For Technology An   4.57        United Housing & Development   8.93        International Agricultural Pro   2.1        Gulf Canadian Real Estate Inve   18.08        Alexandria Pharmaceuticals   45.71        Arab Cotton Ginning   2.46        Egyptian Chemical Industries (   7.26        National Real Estate Bank for    11.84        Six of October Development & I   15.03        National Development Bank   6.72        Oriental Weavers   20.66        Arab Gathering Investment   16.29        Egyptians Abroad for Investmen   2.75        Palm Hills Development Company   1.61        Credit Agricole Egypt   9.04        Remco for Touristic Villages C   2.13        Commercial International Bank    29.87        El Ezz Porcelain (Gemma)   1.9        Egyptian Starch & Glucose   5.4        Arab Real Estate Investment (A   0.41        South Valley Cement   3.12        Citadel Capital - Common Share   2.5        Union National Bank - Egypt "    3.25        Ceramic & Porcelain   2.88        Rowad Tourism (Al Rowad)   5.05        El Nasr Transformers (El Maco)   4.78        Egyptian Media Production City   2.31        GB AUTO   27        Egyptian Transport (EGYTRANS)   7.85        Sharkia National Food   3.78        El Kahera Housing   4.97        El Shams Housing & Urbanizatio   2.45        Egyptian Kuwaiti Holding   0.7        ARAB POLVARA SPINNING & WEAVIN   2.11        Cairo Poultry   8.32        Egyptian Financial & Industria   8        T M G Holding   4.03        Asek Company for Mining - Asco   10.66        Misr Hotels   27        Egyptian Electrical Cables   0.56        Medinet Nasr Housing   22.51        Mena Touristic & Real Estate I   1.21        ELSWEDY CABLES   18        Prime Holding   0.91        Al Arafa Investment And Consul   0.17        Alexandria Spinning & Weaving    0.74        Gharbia Islamic Housing Develo   8.41        General Company For Land Recla   16.6        Alexandria Cement   8.9        Arab Valves Company   0.94        Sidi Kerir Petrochemicals   12.4        TransOceans Tours   0.09        Egyptian for Developing Buildi   6.43        Egyptian Gulf Bank   1.24        Kafr El Zayat Pesticides   18.19        Faisal Islamic Bank of Egypt -   35.1        National company for maize pro   11.86        Delta Construction & Rebuildin   4.03        Zahraa Maadi Investment & Deve   48.25        Samad Misr -EGYFERT   3.52        Egypt for Poultry   1.41        Cairo Development and Investme   11.7        Cairo Pharmaceuticals   20.1        Maridive & oil services   0.9        Suez Canal Bank   3.75        Nile Pharmaceuticals   15.81        The Arab Dairy Products Co. AR   73.85        National Housing for Professio   14.39        El Ahli Investment and Develop   4.87        Egyptian Saudi Finance Bank   10.79        Ismailia National Food Industr   5.16        National Societe Generale Bank   25.52        Acrow Misr   19.16        Alexandria Mineral Oils Compan   63.63        Paper Middle East (Simo)   5.59        Egypt Aluminum   12.31        Giza General Contracting   13.12        Middle Egypt Flour Mills   5.82        Extracted Oils   0.6        Assiut Islamic Trading   4.56        Engineering Industries (ICON)   3.95        North Cairo Mills   15.3        Arab Pharmaceuticals   11.88        Grand Capital   5.38        El Ahram Co. For Printing And    10.68        Minapharm Pharmaceuticals   25.49        El Arabia Engineering Industri   13.52        El Nasr For Manufacturing Agri   9.71        Naeem portfolio and fund Manag   1.7        Faisal Islamic Bank of Egypt -   6.76        Natural Gas & Mining Project (   68.26        Housing & Development Bank   13.95        East Delta Flour Mills   31.5        Orascom Development Holding (A   3.22        Memphis Pharmaceuticals   11.12        Abou Kir Fertilizers   134.23        Delta Insurance   5        Cairo Investment & Real Estate   12.18        Cairo Oils & Soap   12.98        Egyptian Arabian (cmar) Securi   0.36        Egyptian Real Estate Group Bea   15.56        Alexandria Containers and good   85.51        Upper Egypt Flour Mills   45.78        Development & Engineering Cons   9.94        Sinai Cement   15.18        Medical Union Pharmaceuticals   28.01        Torah Cement   24.2        Alexandria New Medical Center   46.55        Export Development Bank of Egy   5.04        Egyptian Company for Mobile Se   92.02        Middle & West Delta Flour Mill   32.7        El Kahera El Watania Investmen   4.18        Mansourah Poultry   12.41        Delta Sugar   11.04        Misr Beni Suef Cement   41.21        Egyptian Satellites (NileSat)   6.14        Cairo Educational Services   17.75        Lecico Egypt   7.55        Sharm Dreams Co. for Tourism I   5.3        General Silos & Storage   10.77        Al Moasher for Programming and   0.66        UTOPIA   5.28        Arab Ceramics (Aracemco)   25.4        Barbary Investment Group ( BIG   0.98        


Business - Banks

Amwal Al Ghad English - 2014-11-25 14:51:51
Egypt’s biggest state-owned lender, the National Bank of Egypt (NBE) will allocate around EGP10 billion (US$ 1.4 billion) to finance local contractor companies, said vice chairman Mahmoud Monstasser. On the sidelines of the Builders of Egypt 2014 Forum that kicked off today, Monstasser stressed that NBE and the Egyptian banking sector are supporting of the country’s contracting sector. NBE’s lending portfolio for local contractors has reached EGP 13 billion, serving around 2500 clients, he noted. More»
Amwal Al Ghad English - 2014-11-25 14:14:53
Bank Audi –Egypt has participated with EGP260 million stake in the directed loan for Misr Petroleum Company and Petroleum Co-operative Society Company (CO-OP) which valued at EGP10 billion, said Mohamed Abbas Fayed Vice Chairman and Managing Director of Bank Audi. Around 11 banks have participated in marketed share of the loan totalling EGP1.8 billion of the total loan value. The loan that had signed in the last month in favor of CO-OP and Misr Petroleum with EGP10billion and this is the largest loan in the history of the banking sector. More»
Amwal Al Ghad English - 2014-11-25 10:03:33
China's move to slash lending rates to help slowing growth may lack punch, as Chinese banks likely will remain reluctant to lower loan rates for fears of hurting their profits. The People's Bank of China on Friday cut benchmark lending rates more than it cut deposit rates, while allowing banks more flexibility in raising rates paid to depositors. The step was designed to help Chinese banks attract savers and get the banks to lower funding costs for businesses, especially small and private entrepreneurs. But banks may be reluctant to go along, say bankers and analysts. Because the cuts to the lending and deposit rates don't match, the difference between how much they charge borrowers and how much they pay depositors would narrow sharply, pressuring profits. "Banks may try to maintain their margins by increasing their lending premiums," says analyst Zhong Zhengsheng at Guosen Securities Co., a Chinese state-owned brokerage firm, while adding: "The rate cuts would only have a very limited impact on lowering companies' financing costs." A banking official at Bank of China Ltd., one of the country's largest state-owned banks, said the rates on existing loans would be lowered as they are priced off the benchmark rate. But for new loans, the bank is likely to leave the rates "unchanged" as risks are ticking up in a weakening economy, the official said. Press officials at the bank didn't respond to requests for comment. Immediately after the PBOC's announcement, some banks including Citic Bank Corp., Ping An Bank Co. and Bank of Ningbo Co. increased their deposit rates to the maximum allowed. Officials at the banks said they are hoping to get a leg-up in the competition for Chinese savers. At the same time, the officials add, they haven't made any decision on lending rates. Press officials at Citic, Ping An and Bank of Ningbo didn't respond to requests for comment. The impact from what is called an asymmetric cut "will be pretty big," a credit official at Citic Bank said. "We raised our deposits as fast as we can, but haven't received any notice regarding the lending rate." Many business owners aren't sure how much of a help they will get. Masa Tao, general manager at Shanghai Silk Textile Co., said the privately owned exporter wants to borrow funds to pay employees wages and bonuses ahead of the Lunar New Year holiday, and has applied to borrow 100,000 yuan ($16,393) from an online-financing company. "But the interest is too high," Ms. Tao said. If banks were to lower their rates following the PBOC rate cuts, she added, "we'll definitely consider borrowing from a bank." Banks in China have long been criticized for ignoring the needs of small businesses while favoring large state-owned enterprises because of their lower credit risks. "The issue here is whether banks will lower their criteria for us small businesses," says Chen Tong, a restaurant owner in Quzhou, a city in eastern China's Zhejiang province. "Well-established bigger companies may benefit more than we do because banks think those companies are more capable of paying back the money." Analysts at Barclays PLC estimate that the rate action would, on average, contract Chinese banks' margins by between 0.13 and 0.19 percentage point next year and lower their net profits by 9% to 12%. Shares in Chinese banks fell on Monday, while the broader Shanghai stock market rose. Friday's policy-rate reduction is the strongest signal yet that China's top leaders are growing increasingly uncomfortable with the slowdown in the world's second-largest economy. Since early this year, Premier Li Keqiang has repeatedly urged Chinese regulators to help reduce the financial burden on businesses. But wary of the already-high leverage in China's economy, the central bank until now had resisted pressure to cut rates or resort to other big-bang measures to stimulate the economy. On Friday, the PBOC cut its benchmark one-year loan rate by 0.4 percentage point to 5.6%. It also cut its benchmark one-year deposit rate by 0.25 percentage point to 2.75% while allowing banks to raise deposit rates up to 3.3%. Unlike in the U.S. and other developed economies, banks in China don't have the freedom to price deposits on their own. According to the country's top banking regulator, even though soured loans remain a small portion of banks' overall portfolio, they surged 10% in the third quarter to 766.9 billion yuan ($125.7 billion), the most since 2005, as borrowers from property developers to steelmakers struggled to repay debt. Meanwhile, some of the country's largest banks--including Industrial & Commercial Bank of China Ltd., Agricultural Bank of China Ltd. and Bank of China--all posted a drop in deposits last quarter, the first quarterly decline since the late 1990s. Part of the drop was due to Chinese savers shifting their funds to higher-rate offerings from private lenders and Internet finance companies. The fall in deposits has contributed to banks' reluctance to lend as Chinese banks are banned from lending more than 75% of their total deposits. Chinese banks are entering a "new norm," said Jiang Jianqing, chairman of ICBC, China's largest state-owned bank by assets, at a Beijing forum on Saturday, according to a transcript of his remarks. The days of some 30% increases in banks' annual profits are gone, Mr. Jiang said, which calls for "deeper reforms." More»
Islam Salah, Hesham Ibrahim & Amr Abdel Ghaffar - 2014-11-24 14:30:52
Egypt allocates €338 million of European Bank for Reconstruction and Development (EBRD)’s finances to finance 14 private-sector projects, minister of international cooperation Naglaa Al Ahwany announced. Seeking larger amount of finances, Al Ahwany further referred to her ministry’s ongoing talks with the French Development Agency (AFD). A sum of US$140 million of US financial aid packages was directed towards financing a number of private-sector projects, the Egyptian minister noted. More»
Nayera Eid, Sayed Badr - 2014-11-24 10:16:58
Vodafone Egypt will be signing today credit facility contract worth EGP4 billion with 7 Egyptian banks. The company is aiming to exploit the loan as credit facilities to cover its needs in developing mobile phone network and improving services, it may allocate part of loan to go for financing the unified licence. Amwal Al Ghad published the bank's stakes in the loan which distributed as EGP900 million in favor of Banque Misr, EGP650million for each of Commercial International Bank (CIB) and AlexBank, EGP600 million in favor of HSBC in addition to Emirates NBD and QNB-AlAhli which participated with EGP400million for each bank. Moreover, Vodafone's revenues increased to EGP3.377 billion within the first quarter of the fiscal year of 2014/2015 that ended in June30 2014. More»