amwalalghad :: Banks

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GMC GROUP FOR INDUSTRIAL COMME   1.29        Telecom Egypt   11.48        Ismailia Misr Poultry   2.45        El Arabia for Investment & Dev   0.34        Modern Company For Water Proof   1.03        Egyptian Real Estate Group   6.85        Pioneers Holding   2.84        Ezz Steel   7.86        Rakta Paper Manufacturing   4.39        Orascom Telecom Holding (OT)   3.92        Naeem Holding   0.19        Egyptian Iron & Steel   6.87        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        Misr Chemical Industries   5.65        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        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        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        Union National Bank - Egypt "    3.25        Ceramic & Porcelain   2.88        Rowad Tourism (Al Rowad)   5.05        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        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 - 2018-02-20 07:47:34
Faisal Islamic Bank of Egypt on Monday said that its business volume increased 11.1 percent by the end of January 2018, compared to the year-ago period. The Islamic lender's business volume rose to 84.66 billion pounds by the end of the first month of the year, compared to 76.21 billion pounds in the same period a year earlier, according to a statement to the Egyptian Exchange (EGX). The bank’s assets jumped 11.3 percent to 83.4 billion pounds last month versus 74.91 billion pounds in the corresponding period the year before. The lender’s current accounts and saving schemes increased 11.8 percent or 71.95 billion pounds, while liquidated assets surged 31.9 percent to 4.95 billion pounds. Faisal Islamic Bank generated 1.7 billion pounds in profits during the full-year 2017, down from 2.8 billion pounds in the prior year. The bank’s standalone revenues tumbled to 6.8 billion pounds last year against 7.4 billion pounds in 2016. Faisal Islamic Bank’s stock inched up 0.06 percent, closing Monday at SAR 16.82, after 73,000 shares were exchanged, with a liquidity of 1.24 billion pounds. More»
Mohamed Hamdy - 2018-02-18 13:06:15
The National Bank of Egypt's (NBE) small and medium enterprises (SMEs) portfolio has registered 19 billion Egyptian pounds ($10.7 billion) as part the central bank of Egypt initiative, according to Vice Chairperson of NBE Yehia Aboul Fotouh . The bank captures 35 percent of the total initiative funding that has increased to 55 billion pounds, he added. CBE issued a directive requiring banks to allocate 20 percent of their total loaning portfolio for SMEs, with interest rates of up to 5 percent imposed on firms generating between EGP 1 million and 20 million a year in revenue. The initiative was launched on 9 January by President Abdel-Fattah El-Sisi, who announced that Egypt’s banks would given 200 billion Egyptian pounds in loans to small and medium enterprises over the next four years. More»
Amwal Al Ghad English - 2018-02-18 11:27:17
The European Bank for Reconstruction and Development (EBRD) has secured a $52 million loan to Angel Yeast Egypt, a global manufacturer of yeast and yeast extract, the lender said in a statement on Thursday. The loan comes in line with EBRD’s keenness to support Egypt’s efforts to attract much-needed foreign direct investment (FDI) in the country’s agribusiness sector. Angel Yeast Egypt is a joint-stock company incorporated and operating in Egypt. It is fully owned by Angel Yeast Co. Ltd, a China-based firm active in the production of yeast and baking ingredients and listed on the Shanghai Stock Exchange. Founded as a research institute 30 years ago, the firm is now the third-largest producer of yeast and the largest producer of yeast extract in the world. The loan is the first EBRD cooperation with a Chinese company in the corporate sector. For Angel Yeast, it is also the first cooperation with a non-Chinese financial institution. It will enable Angel Yeast Egypt to increase production of dry yeast, which is mainly exported, and to launch a yeast extract, a higher value-added product. The company is already working with local suppliers of molasses, a by-product of the sugar industry, and will increase its purchase of local raw materials. Local farmers will also be able to buy organic fertiliser, which Angel Yeast will manufacture from the by-products of yeast production. Increased exports will contribute to generating foreign currency, helping to make the Egyptian economy more competitive and better integrated into regional and global markets. The EBRD loan will finance the construction of new production facilities and a modern, highly efficient wastewater treatment plant in Beni Suef in Upper Egypt, an area with high levels of poverty and unemployment, the statement read. Over 200 jobs will be created, while 300 new and current workers will receive in-depth technical training. The project “will boost exports, bring foreign direct investment, and create jobs. This is a great example of how the idea of increasing trade and cooperation along the ancient Silk Road can bring benefits to local workers and economies.” Janet Heckman, EBRD Managing Director for the Southern and Eastern Mediterranean, said. “The EBRD is also proud to support the efficient use of water resources in Egypt, in line with EU standards, which is one of our top strategic priorities in the country.” Heckman added. “Angel’s investment in Egypt in 2010 was an important step for our company as we began international operations. After six years, Angel has become a successful model of how Chinese enterprises can go global.” Haijin Mei, CFO of Angel Yeast, said. “In 2017, in order to better respond to EU and Egyptian markets, our company decided to invest in a new project, in the production of yeast extract. We are honoured to receive support in this project from the EBRD. We will carefully fulfil the company’s social and environmental action plan, starting production as early as possible, and thus increasing our contribution to the economy of Egypt.” Mei stated. To date, the EBRD has committed over $3.3 billion in about 76 projects in Egypt. The Bank started operating in the country in 2012. China became a shareholder of the EBRD in 2016. More»
Amwal Al Ghad English - 2018-02-18 11:05:35
Qatar National Bank (QNB) said Sunday it has hired CI Capital to advise it on the sale of a small stake in its Egyptian unit, Reuters reported. Qatar National Bank (QNB), the Middle East’s largest lender by assets, announced earlier the day it will sell a 2 percent stake in its Egyptian unit QNB Alahly to comply with Cairo listing rules. The sale of the 2.125 percent stake is intended to comply with Egyptian stock exchange rules that require a free float of not less than 5 percent, QNB Alahly said in a statement. QNB entered Egypt by buying Societe Generale’s Egyptian business for $2 billion in 2013 and QNB Alahly is the third largest Egyptian bank by assets, according to Thomson Reuters data. Ties between Qatar and four Arab states - Egypt, Saudi Arabia, the United Arab Emirates and Bahrain - have deteriorated since the Arab states imposed a diplomatic and economic boycott on Doha in June last year. Qatar’s Commercial Bank is in talks to sell its 40 percent stake in Abu Dhabi-listed United Arab Bank, while Reuters reported in August that Doha Bank was seeking to sell some of its UAE loan book. QNB, however, has remained committed to its businesses in Egypt, the UAE and Saudi Arabia. It has ruled out any sale of its 40 percent stake in UAE-based Commercial Bank International. In Saudi Arabia QNB offers retail and corporate banking services, but put on hold plans to connect to the kingdom’s interbank payment network, Reuters reported late last year. More»
Amwal Al Ghad English - 2018-02-18 10:13:42
Bank Audi’s Ezdehar Fund, with cumulative and floating returns in Egyptian pound, has been awarded the “Best Balanced Fund” and “Best MENA Equity Fund under $75 million” awards for 2017 by MENA Fund Manager Performance Awards. The bank received the awards during MENA Fund’s annual festival held in Dubai in late January. MENA Fund Manager Performance Awards is an organisation specialised in evaluating equity funds performance in the Middle East and North Africa region. Mohamed Abbas Fayed, Bank Audi Egypt’s CEO and Managing Director, has gladly expressed his pleasure towards the significant accomplishment achieved by Ezdehar Fund in the international forums. The fund has successfully achieved a return rate of 34.2 percent in 2017, keeping its leading position among the Balanced Islamic Funds in 2016 with a return rate that reached 35.4 percent, Fayed noted. Mohamed Latif, ‎Chief Institutional and Islamic Banking officer at Bank Audi Egypt, added that Ezdehar Fund has achieved the highest cumulative returns among all the Islamic funds throughout three years with 76.6 percent total. Such awards are honouring for the outstanding performance of Acumen Asset Management that is responsible for managing Ezdehar Fund, Latif said. Ezdehar is a balanced fund, investing in the Shariah-compliant stocks with a maximum up to 60 percent of its assets. It also invests in the deposits and Shariah-compliant income instruments, whereas the circulation in subscription and redemption takes place on weekly basis within the different branches of Bank Audi Egypt. Ezdehar’s Sharia Board consists of elite scholars in Islamic Shariah and jurisprudence in Egypt and the Arab World. Investors including Egyptian, Arab, and Foreign individuals, and legal entities are welcomed and have the right to subscribe in Ezdehar Fund. More»