Who owns the Egyptian banks company? (2024)

Who owns the Egyptian banks company?

Established in 1995 with the sponsorship and approval of the Central Bank of Egypt (CBE), the Egyptian Banks Company for Technological Advancement is owned by the CBE, Ministry of Finance and 18 Egyptian banks.

Who is the CEO of Egyptian banks company?

Tarek Raouf - Chairman & CEO - Egyptian Banks Company | LinkedIn.

Who owns the Egyptian Central Bank?

Is the Egyptian Central Bank independent?

The Central Bank of Egypt is one of the independent regulatory bodies provided for in the Constitution. It has a public legal personality and technical, financial, and administrative independence.

What are the top 5 Egyptian banks?

What is the richest bank in Egypt?

A closer look at Egypt's leading banks' portfolio reveals that Banque Misr has the largest profit margin. It reported a profit of close to 1.49 billion U.S. dollars in late 2021. However, the National Bank of Egypt had the highest value in assets, with 167.41 billion U.S. dollars in June 2021.

What is the largest bank in Egypt?

With over $170 billion in assets, 640 branches, and offices and banking units serving nearly 19 million customers, NBE is the largest financial institution in the country and one of the very largest in the region and in the continent as a whole.

What is the safest bank in Egypt?

Furthermore, Global Finance named NBE as the Best Bank for Liquidity Management in the Middle East in 2022, and as the Safest Bank in Egypt for 2022. In 2022, NBE received two awards from The Global Economics as the Best Retail Bank and the Best Trade Finance Provider in Egypt.

What is the best bank in Egypt?

The best banks in Egypt include the National Bank of Egypt (NBE), Commercial International Bank (CIB), Banque Misr, Qatar National Bank (QNB), Faisal Islamic Bank of Egypt (FIBE), HSBC Bank Egypt, Arab African International Bank (AAIB), Bank of Alexandria, Housing and Development Bank (HDB), and National Bank Kuwait, ...

Who owns Commercial International bank Egypt?

The Commercial International Bank was established in 1975, with joint ownership by National Bank of Egypt (51%) and Chase Manhattan Bank (49%) under the name "Chase National Bank of Egypt".

Where is the headquarters of Central Bank of Egypt?

CBE is headquartered in Cairo, Egypt.

How many state owned banks are there in Egypt?

In Egypt, the role of public development banks is played by three government-owned commercial banks, namely National Bank of Egypt, Banque Misr and Banque du Caire.

What bank does Egypt use?

The National Bank of Egypt, Bank Misr, and Banque Du Caire are large public-sector banks which control 40 percent of the banking sector.

Who is the largest investor in Egypt?

FDI in Figures

In the same year, FDI stocks reached USD 148.8 billion. The UK is by far the largest investor in Egypt, followed by Belgium, the USA and the UAE. FDI is concentrated in the oil and gas industry (around 60% of total investments), followed by financial services, manufacturing, real estate and construction.

Does Egypt have Bank of America?

Bank of America, one of the first foreign banks to open in Egypt, said today it was closing both Egyptian branches and would accept no new business. "The bank shall cease to accept any new banking operations as of June 30, 1994," it said in a statement published in local newspapers.

Which American banks have branches in Egypt?

CAIRO, July 16—Four leading American banks today became the first foreign institutions in 17 years to be granted permission to operate banking offices in Egypt. They are the Chase Manhattan Bank, First National City Bank, American Express Company and Bank of America.

Which bank do most millionaires have?

What rank is Egypt in wealth?

The country's economy is the second largest in Africa by nominal GDP, and 38th in worldwide ranking as of 2023. 107,212,000 (2023 est.) US$347.594 billion (nominal, 2024 est.) US$1.899 trillion (PPP, 2024 est.)

Which bank is best for expats in Egypt?

While there are plenty of Egyptian banks available, expats often prefer to open accounts with international banks that have a presence in Egypt, such as HSBC or Citibank.

Is there a Chase bank in Egypt?

1975: Chase Manhattan Bank establishes in Cairo the Chase National Bank (Egypt) S.A.E., a joint venture with the National Bank of Egypt and has 49% ownership.

What is the oldest bank in Egypt?

How many people in Egypt have a bank account?

The Central Bank of Egypt (CBE) said that 36.8 million citizens, including 16 million women, have bank accounts, a matter that backs the achievement of sustainable growth and economic stability.

Can I open a US bank account from Egypt?

It is possible in theory to set up a US bank account online from abroad — but in practice it's usually hard to find a traditional bank which will let foreigners get full access to an account online. That may mean you can start your application remotely, but need to attend a branch to get verified, for example.

Can foreigners open a bank account in Egypt?

Yes, an expat can open a bank account in Egypt. There are two types of bank accounts that expats can open in Egypt: savings and current.

How much money do you need to open a bank account in Egypt?

Minimum balance for opening account is EGP 2500 and 100 units for accounts in foreign currencies. Perform all of your banking transactions through Banque Misr branches across Egypt. Cheque books issuance to facilitate your banking transactions.