amwalalghad :: Banks

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Business - Banks

Mohamed Hamdy, Sayd Badr - 2013-10-09 11:31:35
 The size of US $ dollar deposits of Banque Du Caire hit $1.5 billion at the end of September 2013, compared to $1 billion at the end of last March. Mohamed Taha, the Deputy Chairman of the bank, said in an exclusive to Amwal Al Ghad, there are many customers who converted their money into local currency , fearing from the continued decline of US $ dollar which registering now EGP 6.90 for buying and EGP 6.92 for selling, but this affair won’t affect the US $ dollar portfolios of the bank. Banque Du Caire has portfolio deposits up around EGP 54 billion in the last June, recording EGP 4.9 billion increasing in compared with the last year. Taha has explained that the bank is currently exporting foreign currency significantly, in compared to the last period which the bank resorted to import foreign currency in order to create a confidence between the bank and the customers. More»
Mohamed Hamdy - 2013-10-09 10:38:37
The deposits portfolio of the National Societe Generale Bank (NSGB) in Egypt surged by EGP 10 billion move up with EGP 63.7 billion at the end of September compared to EGP 53.7 billion at the end of 2012. The separate financial statements of the bank revealed that the total granted loans and facilities of the customers went up by EGP 3.3 billion, registering EGP 40.3 billion by the end of the current year, compared to EGP 37.1 billion 2012-end. The bank’s treasury bills  investments hit EGP 1.8 billion, recording about EGP 14 billion at the end of September, against EGP 12.2 billion at the end of 2012. The total assets of NSGB inched by EGP 10 billion, recording EGP 76.4 billion at the end of September, compared to EGP 66.4 billion in 2012. The Bank’s cash balances with the Central Bank of Egypt (CBE) jumped a hit worth EGP 1.2 billion, registering EGP 5.3 billion in September2013, against EGP 4.02 billion in 2012. More»
Amwal Al Ghad English - 2013-10-09 10:04:13
QNB Group, the World’s Strongest Bank and the leading bank in the Middle East and North Africa, announced its results today for the nine months ended 30 September 2013. These results include the financial results of NSGB in Egypt, in which the Group concluded the acquisition of a controlling stake amounting to 97.12% in March 2013. For the nine months of 2013 Net Profit was QR7.1 billion (USD2.0 billion), up by 14.1% compared to the same period last year. The Group’s prudent cost control policy and strong revenue generating capability allowed it to maintain an efficiency ratio (cost to income ratio) of 20.4%, which is considered one of the best ratios among financial institutions in the region. Total assets increased by 24.5% from September 2012 to reach QR437 billion (USD120.0 billion), the highest ever achieved by the Group. This was the result of a strong growth rate of 27.4% in loans and advances to reach QR304 billion (USD83.5 billion). More»
Amwal Al Ghad English - 2013-10-09 09:55:43
Egypt's banks will be closed from Monday 14th to Thursday 17th for Eid Al-Adha holiday celebrations, announced the central bank of Egypt in a statement on Tuesday. Work will resume Sunday 20th, added the bank. More»
Mohamed Hamdy - 2013-10-08 14:55:18
The Central Bank of Egypt (CBE) has accepted today EGP 13 billion in the 12th auction seven-day deposit operations at an interest rate of 9.25%. An official source in the bank said that banks have offered EGP 25 billion on the CBE and 53% has been accepted. This comes after CBE had re-introduced deposit operations in the last April to absorb excess liquidity of the local banks, as CBE has received from the banks EGP 155 billion over 11auctions. CBE has reduced the price of the required liquidity interest with 1% to reach 9.25% instead of 10.25%. The details and results of the auction are announced on the website of the central bank. More»