List of all articles filed under “egypt-banking” category.
The following list summarizes and introduces Egypt’s banking sector and presents the top banks in Egypt. These top banks include institutions such as the National Bank of Egypt (NBE), Banque Misr, Banque du Caire or the Commercial International Bank (CIB).
“EFSA is the result of unifying all the financial regulators. Our Constitution mentions EFSA, or the non-banking finance regulator as an independent body. We regulate 6 activities, capital markets, insurance, private pensions, mortgage, leasing and factoring. And as a recent development, for the first time in Egypt, microfinance. It is challenging.”
AlexBank is the only private bank with a presence in every governorate of Egypt. “We are working to improve the SME business by offering new products and using the experience we have gained in Italy where the pillar of the business sector is SMEs. The Egyptian government and the business sector are all saying that the future of the country will be SMEs,” says Roberto Vercelli, MD & CEO of AlexBank.
“e-payment currently has enormous potential and it is expanding. When we started in 2005, e-payment did not even exist and now it is part of the country’s future strategy, which was announced by the Minister of Telecommunication few months ago,” explains Haithem Trabeek, Strategy & Business Planning Director of e-finance.
The Egyptian Credit Bureau – or iScore – was founded in 2005 by a consortium of 26 banks. “We are here to help the customers rationalise their credit and help the banks evaluate and make rational credit decisions when granting a loan to a customer,” explains Mohamed Kafafi, Chairman and CEO of the institution.
The Egyptian banking sector ticked off marked growth over in the last year, with aggregated assets rising by nearly 17 percent in local currency terms during 2013, according to the country’s Central Bank.
