{"id":542920,"date":"2022-01-24T03:53:29","date_gmt":"2022-01-24T03:53:29","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/24\/standard-chartered-to-open-first-branch-in-egypt\/"},"modified":"2022-01-24T03:53:29","modified_gmt":"2022-01-24T03:53:29","slug":"standard-chartered-to-open-first-branch-in-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/24\/standard-chartered-to-open-first-branch-in-egypt\/","title":{"rendered":"Standard Chartered to open first branch in Egypt"},"content":{"rendered":"

<\/a> Standard Chartered to open in Egypt: <\/strong>Kelma Akhira\u2019s Lamees El Hadidi dropped the big business news of the night last night, reporting during her show that British bank Standard Chartered has received preliminary approval from the Central Bank of Egypt to open its first branch in Egypt in the next six months (watch, runtime: 2:34<\/a>). The bank has repeatedly tried in recent years<\/a> to expand into the Egyptian market by acquiring local banks<\/a>. The bank\u2019s entry has not yet been confirmed by an official source. EFG Hermes\u2019 chief MENA economist Mohamed Abu Basha was on hand to provide the analysis (watch, runtime: 9:03<\/a>).<\/p>\n

The bank\u2019s entry underscores that Egypt <\/strong>\u201cis attractive to many foreign and regional banks,\u201d<\/strong> Abu Basha said, adding that there is a wide space in the market for a newcomer to offer retail banking services including loans to individuals and SMEs.<\/p>\n

About Standard Chartered:<\/strong> The emerging-markets focused lender operates in 59 markets<\/a> and is listed on the London Stock Exchange and two Asian bourses. In November, the bank said it expected earnings tobe flat in 2021<\/a> on the back of the \u201cuneven recovery\u201d in its main Asian, African and Middle East markets. The bank has been reducing its physical presence in recent years, last summer announcing plans<\/a> to close half its branches and cut global office space by a third amid the pandemic.<\/p>\n","protected":false},"excerpt":{"rendered":"

Standard Chartered to open in Egypt: Kelma Akhira\u2019s Lamees El Hadidi dropped the big business news of the night last night, reporting during her show that British bank Standard Chartered has received preliminary approval from the Central Bank of Egypt to open its first branch in Egypt in the next six months (watch, runtime: 2:34). […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7232],"tags":[204,72,106,492],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-542920","post","type-post","status-publish","format-standard","hentry","category-last-nights-talk-shows","tag-banking","tag-enterpriseam","tag-last-nights-talk-shows","tag-standard-chartered","wpautop","entry"],"acf":{"mongo_id":"fe27a14c-fd7d-4097-ba5e-f1cf45de4b1a","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[542903],"teaser":"","voice_url":""},"yoast_head":"\nStandard Chartered to open first branch in Egypt - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/24\/standard-chartered-to-open-first-branch-in-egypt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Standard Chartered to open first branch in Egypt\" \/>\n<meta property=\"og:description\" content=\"Standard Chartered to open in Egypt: Kelma Akhira\u2019s Lamees El Hadidi dropped the big business news of the night last night, reporting during her show that British bank Standard Chartered has received preliminary approval from the Central Bank of Egypt to open its first branch in Egypt in the next six months (watch, runtime: 2:34). 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