amwalalghad :: Banks

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Telecom Egypt   11.48        GMC GROUP FOR INDUSTRIAL COMME   1.29        Modern Company For Water Proof   1.03        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Pioneers Holding   2.84        Ezz Steel   7.86        Egyptian Real Estate Group   6.85        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        Naeem Holding   0.19        Egyptian Iron & Steel   6.87        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        Universal For Paper and Packag   4.94        Egyptian for Tourism Resorts   0.69        Egyptian Financial Group-Herme   7.42        Orascom Construction Industrie   240.82        Modern Shorouk Printing & Pack   7        Upper Egypt Contracting   0.8        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        Credit Agricole Egypt   9.04        Palm Hills Development Company   1.61        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        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 - 2016-02-01 09:57:44
Al Baraka Bank Egypt, a subsidiary of Bahrain’s Al Baraka Group (ABG), has reported an 18 percent rise in net profit for last year at $35 million. A statement said total assets increased by 30 percent, financing and investments portfolio by 29 percent, deposits by 35 percent and equity by 12 percent at the end of last December compared with the end of December 2014, reported the Gulf Daily News (GDN). More»
Amwal Al Ghad English - 2016-02-01 09:11:40
Bahrain's Al Baraka Islamic Bank plans to open a sharia-compliant bank in France next year as the lender seeks to expand into Europe, Chief Executive Adnan Ahmed Yousif told Reuters Sunday. France has one of the largest Muslim populations in Europe but cultural and legal obstacles have impeded the development of its Islamic finance industry. "We were in the midst of launching an Islamic bank in France, but with the global financial crisis the project was halted, so we are now looking to revive the project again," he said on the sidelines of a banking conference in Egypt's Sharm al-Sheikh. Some Gulf-based Islamic banks that have expanded in Europe have gone elsewhere. Qatar's Masraf Al Rayan owns Al Rayan Bank in the United Kingdom, while Kuwait Finance House's Turkish arm opened its first branch in Germany last year. Al Baraka, which has operations across the Middle East, Asia and Africa including Pakistan, Jordan and South Africa, also plans to acquire a bank in Indonesia either this year or in 2017 and was in talks with the Indonesian central bank governor, Yousif said. Indonesia has been seeking to boost its Islamic banking sector, which is small despite being the world's largest Muslim nation, by adjusting rules including loosening foreign ownership limits on local banks. "We have a representative office in Indonesia, and now is the right time to buy a bank there," Yousif said. Al Baraka also wants to launch banking operations in China this year and is awaiting a decision in March from Morocco's central bank about its plans to enter the market there, he said. More»
Amwal Al Ghad English - 2016-02-01 09:10:18
Barclays (BARC.L) and Credit Suisse (CSGN.VX) have settled federal and state charges that they misled investors in their dark pools, with Barclays admitting it broke the law and agreeing to pay $70 million, federal and New York state officials said on Sunday. The settlements between the banks and the U.S. Securities and Exchange Commission and the New York state attorney general mark the two largest fines ever paid in connection with cases involving dark pools. The amount to be paid, in fines and disgorgement, is a combined total of $154.3 million. At the heart of the cases against both Barclays and Credit Suisse are allegations they misled investors in the dark pools, saying they would be protected from predatory high-frequency trading tactics. Barclays will pay a $70 million fine split evenly between the SEC and New York state, admit it violated securities laws and agree to install an independent monitor to ensure that its dark pool "Barclays LX" operates properly in the future. Credit Suisse will pay a $60 million fine split between the regulators, plus an additional $24.3 million in disgorgement to the SEC for executing 117 million illegal sub-penny orders out of its dark pool known as "Crossfinder." Dark pools are trading venues that differ from public exchanges because orders are not visible to other traders until they are executed. The lack of pre-trade price information is designed to help institutional investors trade large blocks of shares without the market moving against them. As part of the settlement, Credit Suisse will neither admit nor deny the allegations. A Credit Suisse spokeswoman said the bank was pleased to have resolved the matters with the SEC and the New York attorney general. A Barclays representative said the bank was pleased to resolve the case as it will enable the company to focus its efforts on serving clients. More»
Amwal Al Ghad English - 2016-02-01 08:43:07
Europe's largest lender, HSBC, is imposing a hiring and pay freeze across the bank globally in 2016, two sources familiar with the matter told Reuters. An email was sent to staff on Friday detailing the latest cost-saving measures, according to the sources who spoke on condition of anonymity. Like numerous other global banks, HSBC (HSBA.L) is in the midst of a cost-cutting drive to boost profitability and returns to shareholders, and is pushing through with plans for annual cost savings of up to $5 billion by 2017. Europe's biggest bank said in June that it planned to slash nearly one in five jobs and shrink its investment bank by a third in response to sluggish economic growth and tighter global regulation of bank balance sheet risk. "As flagged in our Investor Update we have targeted significant cost reductions by the end of 2017," a spokeswoman for HSBC told Reuters, confirming the content of the staff email. In October, contractors at its investment banking division in London had their pay cut by 10 percent in line with the bank's efforts to rein in costs, a source familiar with the matter told Reuters at the time. News of the pay and hiring freeze follows a significant week for HSBC, after its board met last week to consider moving headquarters to Hong Kong and to focus on the bank's strategy. A decision on the domicile issue could come early next week, a senior source at the bank told Reuters on Jan. 27. More»
Mohamed Hamdy - 2016-01-31 14:46:04
Egypt's Alexandria Business Association (ABA) has pumped 95 million Egyptian pounds (US$12 million) into around 27,000 micro loans during January 2016, a source in the association said Sunday. The source stated that ABA targets injecting finances estimated at 1.3 billion pounds for micro enterprises during 2016. During 2016, Alexandria Business Association aims at raising its credit facilities with the National Bank of Egypt (NBE), Bank of Alexandria besides the Social Fund for Development (SFD) to 350 million pounds, the source clarified. According to the source, ABA is currently in talks to increase the credit limit of the SFD from 25 million pounds to 50 million pounds in 2016 in addition to boosting the facilities used by banks which is estimated at 250 million pounds. Alexandria Business Association has pumped 1.1 billion pounds into around 345,000 loans during January-December 2015. Moreover, the association is currently studying three financing offers form NBE, Banque du Caire, and QNB Alahli to fund its new headquarters. The offers are estimated at 40-50 million pounds. More»