amwalalghad :: Banks

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GMC GROUP FOR INDUSTRIAL COMME   1.29        Telecom Egypt   11.48        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Egyptian Real Estate Group   6.85        Pioneers Holding   2.84        Ezz Steel   7.86        Orascom Telecom Holding (OT)   3.92        Rakta Paper Manufacturing   4.39        Egyptian Iron & Steel   6.87        Naeem Holding   0.19        Misr Chemical Industries   5.65        United Arab Shipping   0.43        Egyptians Housing Development    1.94        Universal For Paper and Packag   4.94        Northern Upper Egypt Developme   4.93        Canal Shipping Agencies   7.39        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        United Housing & Development   8.93        Raya Holding For Technology An   4.57        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        National Development Bank   6.72        Six of October Development & I   15.03        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        Rowad Tourism (Al Rowad)   5.05        Union National Bank - Egypt "    3.25        Ceramic & Porcelain   2.88        El Nasr Transformers (El Maco)   4.78        Egyptian Media Production City   2.31        GB AUTO   27        Sharkia National Food   3.78        Egyptian Transport (EGYTRANS)   7.85        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        Al Arafa Investment And Consul   0.17        Prime Holding   0.91        Alexandria Spinning & Weaving    0.74        General Company For Land Recla   16.6        Gharbia Islamic Housing Develo   8.41        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 - 2014-10-25 13:09:51
AlexBank, a member of Intesa Sanpaolo Group, confirmed its optimism about the future of the Egyptian economy due to its strong fundamentals which would enable the country to overcome any challenges. The lender unveiled its plan to inject fresh investments worth EGP 400 million into the local market in the next four years. This means that the bank will invest EGP 100 million each year according to its expansion plan which was prepared amid the improvement in the local investment climate and political stability, Al-Ahram newspaper reported. AlexBank takes the lead among the Egyptian private banks with a retail banking portfolio reaching more than EGP 11 billion (a market share of 8.7%). The lender’s asset portfolio also exceeded EGP 20 billion, and customer deposits crossed EGP 35 billion. In addition, the bank’s SME portfolio grew by EGP 100 million. More»
Mohamed Hamdy - 2014-10-23 12:12:22
Société Arabe Internationale de Banque (SAIB) is set to sign a financing contract next month with the Social Fund for Development (SFD) for the support of small projects in Egypt. There are several banks in Egypt that are seeking to expand their funding activities for the small projects, which are known for their capability to create job opportunities characterized by lower capital requirements and accordingly contribute to reduce the country’s unemployment rates. From her part, Nevine Gamea - Head of SFD's Central Sector for Small Enterprise Finance – stated that the fund would also sign two agreements with the Housing and Development Bank (HDB) totalling EGP 60 million. More»
Amwal Al Ghad English - 2014-10-23 11:58:14
In an effort to continue providing its customers with the finest and most innovative banking services, Bank Audi has launched, for the first time in the Egyptian market, “World MasterCard”. This credit card is tailored for affluent (premier) customers who are seeking a comfortable and first-class banking service worldwide. The first of its kind in the Egyptian market, “World MasterCard” marks the Bank’s efforts at providing customers with exclusive and excellent financial services. “World MasterCard” is one of the highest levels of Credit cards all over the world; it is positioned on the top of the credit cards range pyramid. In this respect, HatemSadek - Chairman and Managing Director of Bank Audi - highlighted on the Bank’s dedication in providing its customers with highest banking services. He also stressed that Bank Audi aims at providing customers with the most innovative banking products that fits the customer’s changing and growing needs. According to Sadek, Bank Audi places an emphasis on the needs of its target customers in the field of retail banking, which includes an in-depth knowledge of their financial needs to be able to provide products specifically designed for these segments by communicating with them through their most preferred mediums. He explained that this strategy enabled the Bank to achieve unprecedented growth rates in just eight years from its launch in the Egyptian market and throughout the financial market crisis and up to date. This growth was reflected in Bank Audi’s ranking in Egyptian market moving from being ranked among the banks as the smallest banking unit in 2005 to becoming the seventh among the largest private banks operating in Egypt in the number of total assets, total deposits and total loans. More»
Sayed Badr - 2014-10-22 11:56:58
Banque Du Caire has reached an advanced stage of talks before choosing one of five investment firms competing to run the bank’s fifth mutual fund, said a source from the bank with knowledge of the talks. The bank is planning to launch its fifth mutual fund, with a capital of 100 million Egyptian pounds. Speaking to Amwal Al Ghad on Wednesday, the source added that Banque Du Caire is likely to name the winning investment company to run the fund before the end of the current year.The source declined to disclose the names of the five investment companies competing to run the bank's fund. Banque Du Caire’s fifth fund is balanced, set to invest in stocks, bonds, and fixed-income instruments. More»
Amwal Al Ghad English - 2014-10-22 09:38:13
Moody's Investors Service ("Moody's") has today affirmed and changed to stable from negative the outlook on the long term local currency deposit ratings of five Egyptian banks -- namely National Bank of Egypt SAE (Caa1), Banque Misr SAE (Caa1), Banque du Caire SAE (Caa1), Commercial International Bank (Egypt) SAE (Caa1) and Bank of Alexandria SAE (B3). The banks' standalone bank financial strength ratings and their long term foreign-currency deposit ratings have also been affirmed, according to the agency's website. The rating actions follow Moody's decision on 20 October to change Egypt's rating outlook to stable from negative and affirm the government bond rating at Caa1. The bank rating actions reflect: (1) the stabilisation of the government's credit risk profile, which is a key driver of Egyptian banks' creditworthiness given their substantial holdings of Egyptian government bonds; (2) the improvements in domestic operating conditions that will contribute towards stabilising the banks' asset quality and profitability; and (3) the stabilisation in the government's capacity to provide support in the case of the government-owned banks (National Bank of Egypt SAE, Banque Misr SAE, Banque Du Caire SAE). The affirmation and outlook change on the five banks' ratings primarily reflect Moody's view of the stabilisation of the government's credit risk profile and economic environment. Moody's notes the high inter-linkages between the five Egyptian banks and the government, reflecting their high exposure to government risk. The five banks maintain very high concentration to government securities, which Moody's estimates range from 24% to 43% of assets based on the most recently published financial statements. This high concentration has been increasing in recent years, rendering the banks vulnerable to a sovereign credit event and impacting their capital buffers. When the banks' risk-weighted assets (which currently apply zero risk weighting to local currency Egyptian government bonds) are adjusted by Moody's using a 150% risk weighting to reflect the Egyptian government's high credit risk, capital buffers decline significantly. The adjusted Tier 1 ratios range from 3.2% to 5.6% for the government-owned banks, 7.3% for Commercial International Bank (Egypt) SAE and 9.1% for Bank of Alexandria SAE, based on the rating agency's assumptions and the banks' most recently published financial statements. The weaker capital levels of the government-owned banks are the main driver for differentiating their standalone baseline credit assesments (BCAs) at caa2, one notch lower than the caa1 BCA of the privately owned banks. Moody's notes that coinciding with Egypt's stabilising domestic political and security situation, the government launched several fiscal and economic reforms over the past year. Real GDP growth has started to pick up and the country's economic performance will likely improve, driven by strengthening investor confidence, government-led infrastructure projects and a recovery of the tourism sector. The rating agency expects these positive developments to stabilise the banks' operating performance -- mainly their asset quality and profitability. Today's rating actions also reflect the stabilisation of the government's capacity to support the state-owned banks. The Caa1 deposit ratings of the three government-owned banks currently benefit from one notch of systemic support uplift from their caa2 BCAs, reflecting Moody's view of the probability that support would be forthcoming for these banks given their 100% government ownership and systemic importance. Moody's affirmation of the Caa2 long-term foreign-currency deposit ratings of all five Egyptian banks reflects the affirmation of the sovereign ceiling for foreign-currency deposits, which is the highest rating that can be assigned to a foreign-currency deposit obligation of a domestic bank and captures foreign-currency transfer and convertibility risks. More»