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NBE says it will net almost EGP 12.5 bn in FY2016-17
National Bank of Egypt (NBE) expects to match its profit levels of EGP 12.5 bn recorded in FY2015-16 after making…
Banking + Finance
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Mubasher and QNB Alahli sign agreement that allows bank clients to open brokerage accounts
Mubasher Financial Services signed an agreement with QNB Alahli that will allow clients to open brokerage accounts at any of…
NBE board approves EGP 30 bn capital increase
The National Bank of Egypt’s board of directors approved a EGP 30 bn capital increase to EGP 50 bn, funded…
Banks allowed to recognize profit in capital after audit, without need for other approvals
The central bank has issued a directive allowing banks to factor interim profits as part of their capital base for…
EFSA’s unified code for over-the-counter transactions comes into effect
The Egyptian Financial Supervisory Authority’s new unified code for the OTC market came into effect on Sunday after being published…
T-bill yields continue to rise
Average yields on Egypt's three-month and nine-month t-bills rose to an average of 19.09% and 18.49%, respectively, on Sunday, according…
FX bureaus want the CBE to allow them to supply more than one bank at a time
FX bureaus want the CBE to allow them to supply FX to more than one bank at a time to…
Naguib Sawiris, other Beltone Financial execs get seats on Auerbach Grayson’s board
OTMT Chairman Naguib Sawiris, Beltone Financial’s CEO Bassem Azab, and board member Ayman Suleiman have been added the Auerbach Grayson’s…
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