4. QUARTER REPORT 3rd
Quarter [Q3] 2016
National Bank of Oman – Egypt
Page 4 of 13
Economic & Corporate News – Egypt
Moroccan Attijariwafa bank new owner of Barclays Egypt. Barclays Bank PLC has
agreed to sell its retail and corporate banking business in Egypt to the Moroccan
Attijariwafa Bank. The transaction value of Barclays Bank selling its Egyptian unit to
Morocco's Attijariwafa Bank is around $500 million (EGP 4.5 million). Barclays Egypt has
a small market share, but well capitalized for potential growth. Barclays has 56 branches,
a workforce of 1500 employees, and serves around 127,000 customers in Egypt. The
bank’s loan portfolio stood at EGP 7.7 billion as of Q1-16, capturing a market share of
0.9%. The transaction is expected to be completed by the end of 2016. Source:Mubasher
IMF expects 4% growth for Egypt in FY 2016/17 compared to government
expectations of 5.2%. The International Monetary Fund (IMF) expects a 4% growth
for Egypt in the fiscal year (FY) of 2016/2017. The IMF said that Egypt’s real GDP growth
for FY 2014/2015 reached 4.2%, while it expects a 3.8% growth in FY 2015/2016, and
4% in FY 2016/2017. In the meantime, the Egyptian government forecasted a 5.2%
growth in FY 2016/2017, while it expected 4.4% in FY 2015/2016, according to state
budget for FY 2016/2017. Further, the IMF expects the consumer price (inflation) in Egypt
will increase to reach 18.2% in FY 2016/2017. Inflation expectation is high compared to
the last FY due to the US dollar shortage. The unemployment rate reached 12.9% in FY
2014/2015 and the IMF expects this to register 12.7% in FY 2015/2016. The IMF
projected that the current account balance shortage will increase to 5.8% of GDP in FY
2015/2016 compared to 3.7% of GDP in FY 2014/2015. Source:Reuters
Egypt, World Bank sign $500 million loan deal. The Egyptian Ministry of
International Cooperation has signed a $500 million loan deal with the World Bank to
finance a local development program in upper Egypt. The ministry is cooperating with its
partners to prepare a number of developmental programs in Egyptian areas that in need
the most, especially in Sinai and upper Egypt. The program aims at rising economic
growth rates, and creating a sustainable development based on supporting the private
sector to create more job opportunities, through the enhancement of business
environment and the improvement of infrastructure. Source: Almal
GAFI: 786 new Egyptian companies created in September. The Egyptian General
Authority for Investment and Free Zones (GAFI) said that the number of newly
established companies in September reached 786, with investments totaling EGP 2 billion.
Egyptian capital represents 93% or EGP 1.85 billion of the new companies’ capital, while
Arab and foreign capital accounts for 6% and 1% respectively. As for the nature of the
business activity, the number of multi-activity companies reached 313, while service
providers stood at 239. A total of 142 Industrial companies were established in
September, while construction companies totaled 50 companies, with 25 others operating
in telecom, 12 in agriculture, and 5 in tourism. Source: Almal
World Bank forecasts Egypt’s growth rate at 3.8%. World Bank has reduced
Egypt’s growth rate forecast in 2016 to 3.8% from an earlier forecast of 4.3%. The
economic growth will be pushed by the recovery in local demand as consumption
remains strong, but imports is still challenged by the scarcity of foreign exchange and
an overvalued pound. The country’s foreign currency reserves plunged from $36 billion
before January 2011 to $15.54 billion by the end of July 2016. Egypt's local debt reached
EGP 2.49 trillion by March 2016, while external debt stood at $53.4 billion by the third
quarter of FY2015-16. The World Bank also said that the rise in energy prices and the
new value added tax could plunge the inflation on the short run, leaving a negative
effect on low and middle income families. The CBE stated that the basic inflation rate
grew by 13.25% in August, while Egypt’s consumer price index (CPI) increased to
16.4% in August according to the Central Agency for Public Mobilization and Statistics
(CAPMAS). Source:Reuters
UAE’s Sky Telecom may acquire trading platform in Egypt. Sky Telecom Group
intends to acquire an Egyptian electronic trading platform, as part of a future expansion
plan. The transaction is expected to be completed before the end of this year. The
platform’s daily trades exceeded 1 million transactions. Sky Telecom’s investments in
the Egyptian market are valued at EGP 1 billion over three years. The Dubai-based
company is an e-platform for information technology and communications providers. In
February, it signed a partnership deal with Egypt’s E-Finance to launch the largest digital
platform for e-commerce and payments in Egypt. Sky Telecom is also the owner of the
UAE’s MySky. Source:Almal
Al-Sukari mine output up 41% in Q3. Centamin Egypt said Al-Sukari gold mine’s
production rose 41% year-on-year to 148,670 ounces from 105,400 ounces. On a
quarterly basis, the production went up 6% compared to the second quarter of 2016.
Centamin is a mineral exploration, development and mining company dually listed in
the London and Toronto Stock Exchanges. Al-Sukari gold mine is located in the Nubian
Eastern Desert near the Red Sea with a reserve amounting to 15.5 million ounces.
Source: Bloomberg
Egypt's industrial output index down 3.5%. Egypt’s production index of
manufacturing and extractive industries, excluding crude oil and petroleum products,
declined in July 3.5% month-on-month to 104.83 points from 108.60 points. The total
index for basic metal industry stood at 63.65 in July, down 12.1% from 72.39 for June
due to the inactivity of some factories’ furnaces on maintenance works. The total index
for ready-made cloths increased by 72.8% to 190.7 in July 2016, compared with 142.9
due to more export contracts in the summer season ahead of the academic year. The
government seeks to achieve an 8% growth in the industrial sector by the end of
2017/18. Source:Reuter
5. QUARTER REPORT 3rd
Quarter [Q3] 2016
National Bank of Oman – Egypt
Page 5 of 13
Economic & Corporate News – Egypt
Eni, EGPC to build 50MW solar plant in Sinai by end-2017. Italian energy company
Eni agreed with the Egyptian government on a joint strategy to implement a series of
renewable energy projects in Egypt. The strategy includes building a solar energy plant
in Abou Redis city in South Sinai Governorate, with a capacity of 50 megawatts. The
plant's construction will start by the end of 2017 through Petrobel Company. The project
is a 50-50 between Eni and the Egyptian General Petroleum Corporation (EGPC). Source:
Reuters Zawya
Egyptian bourse ends September in red. The Egyptian Exchange ended September
in red after two successive months in green, as the main index EGX30 lost 3.39% or
2.76.93 points month-on-month to close at 7,881.11 as compared to 8,158.04 points in
August. EGX70 fell for the second month in a row to reach 351.62 points as compared to
357.47 points; a decline of 1.64% or 5.85 points. Similarly, EGX100 levelled down 2.13%
or 17.23 points to reach 790.26 points by the end of this month as compared to 807.49
points in August. Market cap lost EGP 8.35 billion to reach EGP 404.84 billion in
September as compared to EGP 413.19 billion by the end of August. Source: Reuters
Egypt to import 50,000 tons of sugar. Egypt's General Authority for Supply
Commodities (GASC) has offered a tender to buy 50,000 tons of sugar. The government
is expected to receive this amount on two periods: 15-30 October and 1-15 November.
Egypt consumes 3.2 million tons of sugar annually, while producing 2 million tons,
according to data issued by the agricultural ministry. Source: Almal
Egypt faces large financing needs – Moody's. Egypt's fiscal reform momentums
support its B3 rating and stable outlook amid the current serious economic challenges
like high unemployment rates, said Moody's Investor's Service, expecting economic
growth to be predominantly supported by public and private investments. Financial aids
from GCC countries have helped stabilize the international reserves and balance of
payments. The government's key credit weakness, Moody's noted, is its very large
government financing needs of more than 50% of GDP. The report highlighted that
Egypt's inflation rose to more than 16% in August 2016. Source: Mubasher
Egypt's tourist arrivals slide 51.2% in 6 months. The number of tourists arrived
Egypt in the first six months of 2016 declined 51.2% year-on-year to 2.3 million from 4.8
million, said the Central Agency for Public Mobilizations and Statistics (CAPMAS) on
Monday. The state-run agency attributed this decline to lower visitors from Russia, United
Kingdom and Germany by 54.9%, 14.9% and 6.4% respectively after a number of
terrorist attacks on Egypt, including the crash of the Russian airplane in Sinai. Over 2015,
the number of arrivals fell to 9.3 million tourists, down 5.6% from 9.9 million tourists in
2014. The tourism sector, a vital part of the economy and a key source of hard currency,
was hard-hit by last year’s downing of a Russian airliner where 224 people onboard were
killed. Source: Mubasher
Egypt's insurance sector to flourish on gradual economic recovery. The
Egyptian insurance market is likely to witness strong premium and profit growth in the
coming 12-18 months. The sector's micro-insurance, medical, takaful and yet-to-be
enacted mutual guarantee premiums will be improved as well. However, the sector still
faces a number of serious challenges, including high sector concentration as the top six
players in the sector account for 69% of total premiums according to 2015 financials,
while the rest of the market is fragmented. The Egyptian insurance market is the second
largest in North Africa, a region that accounted for roughly 0.2% of global insurance
premiums in 2015. By the end of June 2015, gross premiums written (GPW) in Egypt
jumped 12.8% to EGP 15.5 billion, according to the latest available data from the EFSA.
Source: Mubasher
Analysts sure of pound floating, disagree on timing. The Monetary Policy
Committee (MPC) of the Central Bank of Egypt (CBE) will be meeting on 17 October
days after the anticipated decision regarding the International Monetary Fund’s (IMF)
loan to Egypt. Central Bank Governor Tarek Amer previously said in February that the
pound will not be floated until foreign reserves reach $25 to 30 million. The country’s
current foreign exchange reserve is $16.5 billion. Floating the pound depends on
agreeing the IMF loan and the finance from China and KSA. It is expected the CBE’s
MPC to hold an extraordinary meeting before 17 November to raise the interest by
between 150 to 200 points. According to Capital Economics, the Egyptian pound will
decline by 25% to the level of EGP 12 per dollar by the end of 2016, and EGP 13.5 by
the end of 2018. Source: Reuters
Growth concerns behind CBE decision to hold rates. The Central Bank of Egypt
surprisingly maintained key interest rates on its last MPC meeting against all
expectations of a hike in policy rates to ease inflation rate and create an attractive
spread between return on USD and EGP fixed income instruments, thus capturing
foreign fund inflows into the Egyptian market. Although research agencies built their
hike grounds on the soaring inflation rate, the CBE described the factors behind this
aggressive rate as “transitory cost-push factors,” including higher electricity bills and
the increased demand on food, rather than demand factors, which means that raising
rates would not have controlled inflation. Research firms believes the reason behind
this decision is the country's weakened GDP growth, as well as concerns over increasing
the debt service burden that currently stands at 30% of fiscal expenses. Source: Mubasher
Egypt petroleum subsidy spending reaches EGP 51bn in FY15/16. Egypt's
spending on petroleum subsidies reached EGP 51 billion in the fiscal year 2015-2016.
Egypt has incurred costs of nearly EGP 95.3 billion to arrange the local market needs of
petroleum products, the revenues generated from domestic sales amounted to EGP
44.3 billion in 2015-2016. The petroleum sector has supplied the local market with 75.3
million tons of petroleum and gas products in 2015-2016, in addition to providing the
electricity sector with all their fuel needs. Source: Almal
6. QUARTER REPORT 3rd
Quarter [Q3] 2016
National Bank of Oman – Egypt
Page 6 of 13
Economic & Corporate News – Egypt
WB mulls $500m financing for Upper Egypt. Egypt's Minister of International
Cooperation said that the World Bank's (WB) executive board will examine a credit facility
worth $500 million for supporting Upper Egypt on 16 September. This fund will aim at
raising the capacity of local units to provide key services and infrastructure for the area,
which will create sustainable job opportunities and develop a number of industries in
Upper Egypt governorates. In December 2015, the World Bank agreed to finance Egypt's
economic program with $3 billion in three years. Source:Reuters Zawya
Egypt’s economic growth up 3.6% in Q3. Egypt’s economic growth rose 3.6%
during the third quarter led by the construction sector (33.9%), followed by the wholesale
& retail activity (29.8%) as well as the manufacturing industries (26.8%). The economic
growth rate came below the estimates due to world economies’ lower capacity, namely
in EU countries, Russia and China, which all have left an impact on the international
trade. Both investment and savings rate roughly reached 17% and 5.8%, respectively in
the same period. The savings gap accordingly increased to 11.2% in the third quarter
against 10.7% for the prior-year period. Over the first nine months, growth rate went up
4.3%, compared with 4.8% for the year-ago period. The aggregate investment rate grew
13.7% on the first nine-month basis to hit EGP 287.1 billion, of which EGP 110 billion
projects are currently on the ground. Source:Reuters
Indian firms to boost investments in Egypt. An Indian resins and industrial
chemicals manufacturer plans to invest EGP 300 million in the Egyptian market. Lulu, an
Indian company specialized in retail, will expand its operations in Egypt by opening two
new branches employing 3500 workers. Aditya Birla group, based in Alexandria, plans to
increase its annual exports to the European market to reach $200 million. Source: Almal
Egypt's small, micro enterprises reach 2.4m. Egypt’s Central Agency for Public
Mobilization and Statistics (CAPMAS) said that the number of micro and small enterprises
reached 2.4 million. Retail & wholesale, manufacturing industries, and other activities
represent 57.1%, 15.9%, 27%, respectively. Around 6.3 million employees are working
for these facilities. Out of the 2.4 million enterprises, there are 4,700 micro facilities
where 323,000 persons are working. The retail & wholesale, manufacturing industries,
and other activities account for 26.9%, 22.1%, and 51% respectively out of the
aggregate number. Source:Mubasher
Seven countries accounted for 51% of Egypt’s external debt in FY14/15. Seven
countries accounted for 51% of Egypt’s external debt in the fiscal year 2014/15. Each of
Saudi Arabia, Kuwait and UAE came in the top with 37.3%, followed by Germany, Japan,
USA and France with 6%, 4.6%, 4.2% and 3.1% respectively. Egypt’s external debt
amounted to $47.8 billion by the end of December 2015. International financial
institutions accounts for 27% of Egypt’s debts, where the World Bank accounts for 9.8%,
European Investment Bank accounts for 3.4%, while African Development Bank accounts
for 3.6%. Source:Mubasher
Egypt picks 4 banks for US dollar bonds issue. Egypt’s finance ministry selected
four investment banks to arrange a US dollar-denominated bond issue on global
markets. The selected banks are Natixis Bank, Citibank, Bank JP Morgan and BNP
Paribas, according to a statement. Source:Reuters Zawya
Egypt’s loan & grant portfolio hits $22.5bn. Egypt was given $22.5 billion loans
and grants over the past period, said Minister of International Cooperation. The loan
and grant portfolio consists of $11.5 billion received over the last ten months, while the
remaining amount was provided earlier. Moreover, the government seeks a $500 million
loan from the African Development Bank, along with the IMF first $1 billion tranche.
Meanwhile external debt rose during July-March 2015/16 by 34% year-over-year to
$53.4 billion, according to the central bank’s data. Source:Reuters
IMF agrees $12 billion 3-year funding deal with Egypt. The International
Monetary Fund has agreed in principle to grant Egypt a $12 billion three-year loan
facility, to support a government reform program aimed at plugging a budget gap and
rebalancing the currency markets. The long-awaited Extended Fund Facility (EFF) deal
is subject to final approval by the IMF executive committee in the coming week. Among
the reforms agreed are subsidy cuts, introducing Value Added Tax (VAT) and reducing
bureaucracy for foreign investors. The IMF also wants Egypt to focus monetary policy
on easing the chronic dollar shortage and reduce inflation to single digits. Source: Almal
Egypt 2025-dollar bond nears 1-year high after IMF loan agreement. Egypt's
dollar-denominated 2025 bond rose to its highest level since End-September 2015 after
the country agreed a three-year funding deal with the International Monetary Fund
(IMF). The bond issued in 2015 changed hands at 95.437 cents in the dollar while the
2020 issue traded at 102.292 cents after adding 0.022 cents on the day. Source:Mubasher
Abu Dhabi Islamic Bank says H1 net profit climb 33% in Egypt. Abu Dhabi
Islamic Bank (ADIB) reported Thursday a 33 percent y-o-y rise in first half net profit in
Egypt to 171 million Egyptian pounds ($19.2 million). The UAE bank in Egypt - ADIB
Egypt recorded standalone net revenue of 927 million pounds by end of June 2016,
42% y-o-y higher. Net revenue from funding also surged 43 percent to 659 million
pounds. Return on investments in debt instruments and treasury bills also rose 54
percent to 200 million pounds. Net fees and commissions income also went up 47
percent to 176 million, while net trading income recorded 91 million pounds, marking a
33 percent y-o-y rise. Customers' deposits at ADIB-Egypt climbed 10 percent to 22.4
billion pounds. Total assets grew 16 percent to 27.4 billion pounds. Source:Reuters
Egypt to receive $2 bln deposit from Saudi Arabia. Egypt signed a deal for a $2
billion central bank deposit from Saudi Arabia, Egypt inked a raft of agreements with
Saudi Arabia during a visit by the Saudi king in April, including plans for a 60 billion
Saudi riyal ($16 billion) investment fund. Source:Reuters
SAIBANK profits grow 47% in Q2. Societe Arabe Internationale de Banque
(SAIBANK) reported an increase of 47% in net profits for the second quarter of 2016.
The lender said it saw net profits of $16.3 million for Q2-2016, up from $11.1 million.
7. QUARTER REPORT 3rd
Quarter [Q3] 2016
National Bank of Oman – Egypt
Page 7 of 13
Economic & Corporate News – Egypt Economic & Corporate News – Africa
Mashreq Bank Egypt Net Profit Up 117%. Abdul Aziz Al Ghurair the CEO of Mashreq
Bank announced that Mashreq Bank Egypt achieved a net profit of EGP 350 million during
the first half of 2016 with an increases of 117% in comparison to last year’s results. The
CEO of Mashreq Bank also expected net profits of Egypt’s unit to reach EGP 700 million
by the end of current year. Mashreq Bank Egypt customers’ deposits jumped from EGP 3
billion in 2013 to EGP 16 billion by 2016 also the number of customers increased from 20
thousands to 80 thousands during the same period. The contribution of Egypt’s unit into
the bank’s net profit during this year’s first half reached 13.15% from the entire bank net
profit which recorded AED 1.1 billion. It is worth mentioning that the contribution was
previously recorded at 1% throughout the unit’s history in Egypt. Source:Ahram Newspaper
Egypt eyes EGP 6 to 8bn from floating public companies’ stakes on EGX. Egypt’s
government expects proceeds of EGP 6 billion to 8 billion from offering stakes in public
companies for public offering on the Egyptian Exchange (EGX). The government plans to
float from 20% to 30% stakes in public companies in order to magnify the real value of
assets rather than selling them. Source:Reuters
Egypt's foreign reserves hit $15.54bn in July. Net foreign reserves reached $15.54
billion in July 2016, compared with $17.55 billion a month earlier, CBE announced in a
statement. The statement did not reveal the reason behind this decline amid a foreign
currency shortage that the country has been facing since 2011. Source: Almal
Chinese firm to inject $20bn investments in Egypt. Egypt’s Ministry of Investment
stated that China Fortune Land Development (CFDL) plans to inject $20 billion
investments within the coming ten years in the new administrative capital. Source:Mubasher
NBE finances SMEs with EGP 28bn in June. National Bank of Egypt appropriated
EGP 28 billion ($314.02 million) for financing 47,000 small and medium-sized enterprises
(SMEs), Very small enterprises have been backed by EGP 3.3 billion ($370.1 million).
During the fiscal year 2015/16, the bank managed EGP 200 billion ($25.5 billion) to fund
18,000 SMEs, around 77% of customers were granted loans to expand their established
enterprises, while the other 23% was financed for launching their projects. Source:Reuters
Bank du Caire's FY15 profits hit EGP 2.8bn. Banque du Caire earned EGP 2.8 billion
in the fiscal year 2015, higher 33% year-on-year from EGP 2.1 billion. FY15 profit growth
was attributed to the volume of assets that increased to EGP 91 billion from EGP 73 billion
a year earlier, the bank plans on hiking its capital to EGP 2.25 billion from EGP 1.6 billion
in the upcoming period. Source:Reuters
SAIBANK profits grow 47% in Q2. Societe Arabe Internationale de Banque
(SAIBANK) reported an increase of 47% in net profits for the second quarter of 2016.
The lender said it saw net profits of $16.3 million for Q2-2016, up from $11.1 million.
Source:Mubasher
S. Africa beats Nigeria to become Africa's biggest economy. South Africa’s
economy has beaten that of Nigeria to become the continent’s largest in dollar terms.
The ‘rainbow nation’ regains a title it lost more than two years to Africa’s most populous
nation. The Nigerian naira has been dropping whiles the South African rand keeps
making gains against the dollar. Bloomberg quotes the size of South Africa’s economy
being $301 billion at the rand’s current exchange rate, while Nigeria’s being $296 billion,
based on gross domestic product (GDP) at the end of 2015 published by the
International Monetary Fund (IMF). Source:Bloomberg
Africa has potential to become a world reference in renewable energy. Africa’s
renewable energy industry is the most promising on the continent. Investors believe in
the ability of Africa to become a world reference for renewable energy. Projects in this
sector represent a high potential in realizing higher returns on investment. Solar energy
is the most promising energy solution by the year 2020 and Africa is now entering a
global trend of development of renewable energy at the expense of fossil fuels.
However, investors cited issues surrounding legal procedures and governance as some
of the main setbacks. Source:africanews.com
Tunisia issues $500 million Eurobond with USAID guarantee. Tunisia has issued
a $500 million Eurobond to plug part of its budget deficit and finance development
projects. The rate of interest was set at 1.416%. The bond already obtained more than
$3 billion. This is the fifth time that Tunisia has sourced for funds from the international
debt market since the fall of former president Ben Ali in January 2011. Source: allafrica.com
DR Congo's 2015 growth slows to 7.7%. Democratic Republic of Congo (DRC)
recorded a decrease in its economic growth of 7.7% for 2015 from a high of 9.2% in
2014. Growth during the period was derived mainly from mining, transportation,
telecommunications and manufacturing sectors. It is projected that the economy will
continue with its downward trend in 2016 with growth decelerating to 7% before
rebounding to 8% in 2017. Source: Bloomberg
US pledges $407 million aid to Tanzania after a 4-month hiatus. After
suspending aid to Tanzania in March, the United States pledged $ 407-million-dollar aid
to the East African country. US Millennium Challenge corporation had said that Tanzania
had violated its commitment to democracy over the March polls in the semi-autonomous
island of Zanzibar. Source:Reuters
Chinese, African companies signed $17B business deals. Companies from China
and Africa signed more than 40 business deals totaling about 17 billion dollars. The
deals, involving government departments, financial institutions and industrial
enterprises, were signed. The Chinese and African companies span the sectors of
infrastructure, processing and manufacturing, finance, investment, energy, chemicals,
agriculture, pharmaceuticals and ICT. Source:africanews.com
Kenya's central bank reduces lending rate by 100 basis points. Kenya’s central
bank has lowered its benchmark lending rate by 100 basis points to 10.5 per cent citing
a fall in the country’s overall inflation. During a meeting chaired by the Central Bank of
8. QUARTER REPORT 3rd
Quarter [Q3] 2016
National Bank of Oman – Egypt
Page 8 of 13
Business Updates – Egypt Regulatory Updates – Egypt
Member of Egyptian Federation for Construction and Building Contractors
‘EFCBC’ demands urgent floatation of Egyptian pound to avoid bankruptcy
of factories
Sawiris and Cypriot partner to develop touristic real estate project, Sawiris
is contributing 80% through Gemini Holding and Makronisos with 20%, the
project consists of two residential towers, including 180 residential
apartments, 29 villas, and a marina for yachts. The project’s estimated
sales are worth €500m
15.8% decline in shipments traded through Damietta port in August
Suez Canal Authority studies collecting fees in yuan after adding it to SDR
111% increase in Egyptian exports to Cyprus from €9m (2015) to €19m
(2016), units, main exports are raw salt, natural sand, stones, marble and
ceramic tableware, foil paper and tableware made from aluminum, cables,
tobacco, cigars, chemicals, organic solvents, and fresh fruit and vegetables
China Fortune Land Development discuss building 30m sqm integrated
industrial zone
EGP 42m fresh fruit exports during the first half of 2016
112% increase in Egyptian exports to UAE at $1.125bn in H1-2016 against
$530m in H1-2015, products include televisions, raw gold, furniture,
oranges, onions, shisha tobacco, electronic monitors, reception and
television transmission devices, potatoes, electric cables, copper wire, and
coal.
Egypt received 16.65% of total Brazilian exports valued $872.79m, ranks
third in Arab world, main commodities are meat at 34.88% of total export
value, Sugar at 26.62%, followed by cereals at 6.52%
Alkan Group invests $600m into Citadel Plaza project over 5-year period
Hyde Park Properties targets EGP 3bn in sales by end of 2017
IL Monte Galala chosen as best residential low-rise project in emerging
markets by Cityscape Global
Abraj Misr expects EGP 1.6bn in sales by year’s end
Talaat Moustafa Group Holding Company ‘TMG’ to invest EGP 2.5bn in
Madinaty, Rehab, Four Seasons in second half of 2016
CBE New Regulations
1. Circular dated 20 July 2016 regarding Liquidity Regulation according to
Basel III (LCR- NSFR)
9. QUARTER REPORT 3rd
Quarter [Q3] 2016
National Bank of Oman – Egypt
Page 9 of 13
Sr Figures in EGP unless specified Sector P.C. Open Close %CHG
Last
Price
High Low Value (LE) Volume Trades
Market Cap
(LE Million)
Banks
1 Abu Dhabi Islamic Bank- Egypt Banks 3.68 3.68 3.61 -1.9 3.6 3.63 3.6 206,020 57,000 23 722
2 Al Baraka Bank Egypt Banks 8.57 8.57 8.56 -0.12 8.55 8.6 8.55 15,679 1,832 3 1,171
3 Commercial International Bank Banks 49.03 49.03 49.09 0.12 48.87 50 48.72 22,344,246 455,194 682 56,643
4 Credit Agricole Egypt Banks 22 22 22 0 22.02 22 22.02 18,012 818 2 6,840
5 Export Development Bank of Egypt Banks 9.06 9.06 9.04 -0.22 9.05 9.05 9 31,949 3,533 4 1,302
6 Faisal Islamic Bank of Egypt Banks 9.13 9.13 9.13 0 9.25 9.74 9.25 8,922 950 5 610
7 Housing & Development Bank Banks 16.79 16.79 16.82 0.18 16.8 17.2 16.8 214,448 12,748 14 2,128
8 Qatar National Bank Banks 32.05 32.05 32.05 0 32.9 33 32.9 1,814 55 4 20,680
Basic Resources
9 Arab Aluminum Basic Resources 9 9 9 0 8.5 8.5 8.5 6,188 728 1 51
10 Egypt Aluminum Basic Resources 11.02 11.02 11 -0.18 11 11 11 10,120 920 1 1,375
11 Egyptian Iron & Steel Basic Resources 6.26 6.26 6.25 -0.16 6.15 6.35 6.15 1,812,323 289,827 99 3,053
12 EZZ Steel Basic Resources 7.29 7.29 7.25 -0.55 7.13 7.37 7.13 10,012,402 1,380,989 502 3,939
13 Misr National Steel Basic Resources 10.64 10.64 10.7 0.56 10.65 10.7 10.65 114,029 10,660 4 321
Chemicals
14 ABOU KIR Fertilizers Chemicals 114.5 114.5 114.5 0 110 110 110 5,500 50 1 9,632
15 Egyptian Chemical Industries Chemicals 3.55 3.55 3.52 -0.85 3.48 3.58 3.48 503,315 142,807 65 1,433
16 Egyptian Financial & Industrial Chemicals 7.58 7.58 7.57 -0.13 7.42 7.65 7.42 3,914,736 517,067 186 525
17 Misr Chemical Industries Chemicals 3.74 3.74 3.89 4.01 3.93 3.93 3.71 57,388 14,750 11 253
18 Misr Fertilizers Production Company Chemicals 29.17 29.17 27.7 -5.04 27 29.1 26.99 791,648 28,575 97 6,347
Construction and Materials
19 ACROW Misr Construction and Materials 32.8 32.8 32.8 0 32.32 32.3 32.32 6,464 200 1 361
20 Alexandria Cement Construction and Materials 6 6 6 0 5.92 5.92 5.91 3,340 565 2 1,542
21 Arabian Cement Company Construction and Materials 5.48 5.48 5.46 -0.36 5.3 5.6 5.3 6,574,405 1,203,993 409 2,068
22 Delta Construction & Rebuilding Construction and Materials 4.76 4.76 4.96 4.2 4.94 4.97 4.94 44,044 8,872 5 115
23 Egyptian for Developing Building Materials Construction and Materials 7.05 7.05 7.06 0.14 7.16 7.22 7 121,685 17,229 24 39
24 ELSAEED Contracting& Real Estate Investment
Company SCCD
Construction and Materials 0.85 0.85 0.84 -1.18 0.83 0.85 0.83 351,058 418,037 31 476
25 Giza General Contracting Construction and Materials 1.51 1.51 1.46 -3.31 1.45 1.49 1.43 318,017 218,151 35 241
26 LECICO Egypt Construction and Materials 2.01 2.01 2 -0.5 2 2 1.98 53,280 26,653 18 160
27 Modern Company for water proofing Construction and Materials 0.69 0.69 0.67 -2.9 0.67 0.69 0.67 29,208 43,333 6 80
28 National Cement Construction and Materials 6.73 6.73 6.49 -3.57 6.55 6.55 6.3 10,874 1,676 4 670
29 RUBEX International for Plastic and Acrylic
Manufacturing
Construction and Materials 5.27 5.27 5.07 -3.8 5.07 5.07 5.07 15,210 3,000 1 51
30 Sinai Cement Construction and Materials 23.85 23.85 22.56 -5.41 22.58 22.6 22.53 26,846 1,190 5 1,579
31 South Valley Cement Construction and Materials 4 4 4.02 0.5 3.94 4.07 3.94 1,340,015 333,595 124 1,939
32 Suez Cement Construction and Materials 9.98 9.98 9.98 0 9.85 9.91 9.85 4,943 500 2 1,815
Financial Services
33 AMER Group Holding Financial Services 0.28 0.28 0.28 0 0.27 0.28 0.27 1,362,742 4,876,629 71 1,277
34 Arabia Investments Holding Financial Services 0.87 0.87 0.87 0 0.87 0.88 0.86 831,197 954,353 37 383
35 Belton Financial Holding Financial Services 9.74 9.74 10.54 8.21 10.7 10.7 10.1 298,617 28,340 54 1,781
36 Citadel Capital Financial Services 0.9 0.9 0.88 -2.22 0.88 0.9 0.87 7,850,198 8,884,130 280 1,248
Key Valuation Indicators (as on September 29, 2016)
10. QUARTER REPORT 3rd
Quarter [Q3] 2016
National Bank of Oman – Egypt
Page 10 of 13
Sr Figures in EGP unless specified Sector P.C. Open Close %CHG
Last
Price
High Low Value (LE) Volume Trades
Market Cap
(LE Million)
37 Delta Insurance Financial Services 6.41 6.41 6.35 -0.94 6.4 6.4 6.3 19,050 3,000 3 143
38 Egyptian Arabian Securities Brokerage EAC Financial Services 0.71 0.71 0.7 -1.41 0.69 0.7 0.69 28,671 41,251 11 44
39 Egyptian Financial Group-Hermes Holding Company Financial Services 12.36 12.36 12.39 0.24 12.39 12.5 12.3 50,815,560 4,101,269 601 7,619
40 El Ahli Investment and Development Financial Services 5.21 5.21 5.17 -0.77 5.17 5.2 5.14 44,729 8,650 7 103
41 MOHANDES Insurance Financial Services 19.2 19.2 20.1 4.69 20.2 20.2 20 60,299 3,000 8 201
42 ORASCOM Construction Limited Financial Services 70.41 70.41 71.24 1.18 70.5 72 70.5 24,766,885 347,653 153 8,409
43 Pioneers Holding Financial Services 9.24 9.24 9.25 0.11 9.16 9.35 9.16 1,607,941 173,774 88 6,553
44 Prime Holding Financial Services 2.21 2.21 2.18 -1.36 2.15 2.23 2.15 286,879 131,653 34 159
45 Egyptian Financial Group-Hermes Holding Company Financial Services 6.41 6.41 6.35 -0.94 6.4 6.4 6.3 19,050 3,000 3 143
46 Egyptians Abroad for Investment & Development Financial Services 0.71 0.71 0.7 -1.41 0.69 0.7 0.69 28,671 41,251 11 44
Food and Beverage
47 AJWA for Food Industries company Egypt Food and Beverage 1.94 1.88 1.85 -4.64 1.83 1.89 1.82 2,066,717 1,115,722 283 186
48 Alexandria Flour Mills Food and Beverage 13.59 13.59 13.59 0 13.6 13.6 13.6 8,160 600 5 109
49 Arabian Food Industries DOMTY Food and Beverage 6.38 6.38 6.28 -1.57 6.26 6.39 6.26 390,552 62,165 27 1,775
50 Atlas Land Reclamation and Agricultural Processing Food and Beverage 6.35 6.35 6.27 -1.26 6.23 6.35 6.23 51,728 8,250 8 37
51 Cairo Oils & Soap Food and Beverage 23.56 23.8 23.68 0.51 23.62 23.8 23.6 4,736,047 200,010 390 947
52 Cairo Poultry Food and Beverage 4.37 4.37 4.37 0 4.44 4.44 4.44 5,550 1,250 1 1,675
53 East Delta Flour Mills Food and Beverage 51.56 51.56 51.56 0 51.95 52 49.01 1,353 27 2 309
54 EDITA Food Industries Food and Beverage 9.98 9.98 9.9 -0.8 9.9 10 9.67 6,708,909 677,708 22 7,181
55 Egyptian Starch & Glucose Food and Beverage 6.5 6.5 6.55 0.77 6.55 6.57 6.55 47,180 7,200 10 328
56 El Nasr for Manufacturing Agricultural Crops Food and Beverage 6.87 6.87 7.06 2.77 6.9 7.23 6.9 58,136 8,235 9 56
57 Extracted Oils Food and Beverage 0.73 0.73 0.73 0 0.72 0.73 0.72 24,863 34,127 6 115
58 International Agricultural Products Food and Beverage 1.52 1.52 1.52 0 1.5 1.5 1.5 2,882 1,921 1 128
59 Ismailia Misr Poultry Food and Beverage 1.66 1.66 1.65 -0.6 1.65 1.67 1.65 42,868 25,950 8 148
60 Ismailia National Food Industries Food and Beverage 3.75 3.75 3.75 0 3.85 3.85 3.85 1,155 300 1 34
61 JUHAYNA Food Industries Food and Beverage 4.13 4.13 4.2 1.69 4.15 4.24 4.12 10,274,492 2,448,911 367 3,954
62 MANSOURAH Poultry Food and Beverage 5 5 5.1 2 5.05 5.1 5.05 38,377 7,525 5 74
63 Middle & West Delta Flour Mills Food and Beverage 58.49 58.49 57.02 -2.51 57.01 58.1 57.01 28,795 505 2 428
64 Middle Egypt Flour Mills Food and Beverage 14.19 14.19 14.12 -0.49 14.15 14.3 14.01 111,992 7,930 11 208
65 Misr Oils & Soap Food and Beverage 11.5 11.5 11.5 0 10.35 10.4 10.35 4,316 417 2 69
66 National company for maize products Food and Beverage 11.11 11.11 11.07 -0.36 11 11.2 11 52,918 4,779 5 327
67 North Cairo Mills Food and Beverage 13.23 13.23 13.39 1.21 13.5 13.5 13.21 204,211 15,247 21 143
68 Agricultural Crops Food and Beverage 8.66 8.66 8.66 0 8.31 8.32 8.31 8,315 1,000 2 52
69 SHARKIA National Food Food and Beverage 2.77 2.77 2.77 0 2.66 2.66 2.66 1,995 750 3 45
70 Flour Mills Food and Beverage 1.71 1.71 1.69 -1.17 1.71 1.71 1.67 312,685 184,660 69 170
Healthcare and Pharmaceuticals
71 Advanced Pharmaceutical Packaging Co. (APP) Healthcare and Pharmaceuticals 2.53 2.53 2.49 -1.58 2.41 2.78 2.41 126,770 50,895 42 22
72 Alexandria Pharmaceuticals Healthcare and Pharmaceuticals 54.5 54.5 54.5 0 54.5 54.5 54.5 27,250 500 2 273
73 Arab Pharmaceuticals Healthcare and Pharmaceuticals 8.11 8.11 7.76 -4.32 7.7 7.94 7.69 316,023 40,749 61 47
74 Cleopatra Hospital Company Healthcare and Pharmaceuticals 9.65 9.65 9.7 0.52 9.65 9.7 9.65 746,458 76,961 8 1,940
75 Egyptian International Pharmaceuticals (EIPICO) Healthcare and Pharmaceuticals 70 70 68 -2.86 68 68 68 46,580 685 1 5,395
76 El-Nile Co. For Pharmaceuticals and Chemical
Industries
Healthcare and Pharmaceuticals 9.11 9.11 9.11 0 9.2 9.2 9.2 9,200 1,000 3 92
77 Medical Packaging Company Healthcare and Pharmaceuticals 0.72 0.72 0.71 -1.39 0.7 0.73 0.7 368,967 516,642 71 45
78 SABAA International Company for Pharmaceutical
and Chemical
Healthcare and Pharmaceuticals 2.97 2.97 3.1 4.38 3.1 3.1 3.1 15,500 5,000 4 93
11. QUARTER REPORT 3rd
Quarter [Q3] 2016
National Bank of Oman – Egypt
Page 11 of 13
Sr Figures in EGP unless specified Sector P.C. Open Close %CHG
Last
Price
High Low Value (LE) Volume Trades
Market Cap
(LE Million)
Industrial Goods and Services and Automobiles
79 Alexandria Containers and Goods Industrial Goods and Services and
Automobiles
85.83 85.83 85.95 0.14 86.36 86.4 85.54 397,025 4,619 27 12,709
80 Canal Shipping Agencies Industrial Goods and Services and
Automobiles
4.92 4.92 4.84 -1.63 4.82 5 4.8 36,330 7,500 8 968
81 Egyptian Transport Industrial Goods and Services and
Automobiles
3.4 3.4 3.35 -1.47 3.33 3.44 3.32 59,883 17,876 16 105
82 El AHRAM Co. For Printing and Packing Industrial Goods and Services and
Automobiles
3.38 3.38 3.44 1.78 3.39 3.51 3.39 127,607 37,097 20 29
83 El Nasr Transformers Industrial Goods and Services and
Automobiles
5.25 5.25 5.3 0.95 5.14 5.38 5.14 14,585 2,750 4 211
84 Electro Cable Egypt Industrial Goods and Services and
Automobiles
0.75 0.75 0.75 0 0.74 0.75 0.74 92,413 123,939 26 391
85 ELSWEDY ELECTRIC Industrial Goods and Services and
Automobiles
50.99 50.99 51 0.02 51 51 51 3,525,018 69,118 14 11,394
86 GB AUTO Industrial Goods and Services and
Automobiles
2.23 2.23 2.23 0 2.22 2.24 2.22 669,896 300,692 67 2,440
87 Modern SHOROUK Printing & Packaging Industrial Goods and Services and
Automobiles
7.31 7.31 7.31 0 7.05 7.05 7.05 705 100 1 87
88 United Arab Shipping Industrial Goods and Services and
Automobiles
0.73 0.73 0.72 -1.37 0.71 0.73 0.71 479,016 663,780 52 144
89 Universal for Paper and Packaging Materials Industrial Goods and Services and
Automobiles
10.07 10.07 10.06 -0.1 10.06 10.1 10.05 58,914 5,857 8 80
90 Delta for Printing & Packaging Industrial Goods and Services and
Automobiles
6.8 6.8 6.8 0 7.13 7.13 7.13 1,783 250 1 38
Media
91 Egyptian Media Production City Media 2.71 2.71 2.71 0 2.71 2.82 2.7 57,120 21,055 14 514
Oil and Gas
92 Alexandria Mineral Oils Company Oil and Gas 38.42 38.42 40.97 6.64 39.4 42.3 38.98 234,941,733 5,733,955 292 3,528
93 GMC Group for Industrial Commercial & Financial
Investments
Oil and Gas 0.81 0.81 0.83 2.47 0.82 0.84 0.81 151,537 182,840 39 35
Personal and Household Products
94 Alexandria Spinning & Weaving Personal and Household Products 0.79 0.79 0.79 0 0.79 0.79 0.79 22,535 28,525 9 236
95 Arab Cotton Ginning Personal and Household Products 2.71 2.71 2.69 -0.74 2.67 2.73 2.67 2,013,340 747,492 135 712
96 Ceramic & Porcelain Personal and Household Products 3.03 3.03 3.01 -0.66 3 3.05 3 76,224 25,316 17 152
97 Eastern Tobacco Personal and Household Products 203.1 203.1 200 -1.5 196.63 200 196.63 5,748,770 28,744 13 10,000
98 El Nasr Clothes & Textiles Personal and Household Products 0.98 0.98 0.97 -1.02 0.97 0.97 0.97 48,340 49,835 14 328
99 Oriental Weavers Personal and Household Products 7.74 7.74 7.79 0.65 7.64 7.92 7.64 12,554,575 1,611,620 495 3,506
Real Estate
100 Arab Real Estate Investment Real Estate 0.6 0.6 0.59 -1.67 0.58 0.6 0.58 207,033 350,378 31 145
101 Cairo Development and Investment Real Estate 3.13 3.13 3.08 -1.6 3.06 3.1 3.05 218,657 71,000 33 154
102 Egyptian Real Estate Group Real Estate 7.29 7.29 7.25 -0.55 7.25 7.3 7.22 75,719 10,446 20 55
103 Egyptians for Investment & Urban Development Real Estate 1.49 1.49 1.45 -2.68 1.44 1.46 1.43 118,178 81,690 18 58
104 Egyptians Housing Development & Reconstruction Real Estate 3.04 3.04 3 -1.32 2.99 3.01 2.99 49,656 16,552 8 275
105 El Arabia for Land Reclamation Real Estate 6.02 6.02 6.02 0 5.8 5.8 5.8 1,769 305 2 31
106 El KAHERA Housing Real Estate 10.41 10.41 9.95 -4.42 10 10 9.37 39,811 4,000 4 896
107 El Shams Housing & Urbanization Real Estate 2.35 2.35 2.31 -1.7 2.3 2.33 2.27 148,625 64,445 19 280
108 Emaar Misr for Development Real Estate 2.28 2.28 2.27 -0.44 2.25 2.29 2.25 4,590,898 2,024,194 136 10,486
109 GHARBIA Islamic Housing Development Real Estate 4.44 4.44 4.37 -1.58 4.32 4.4 4.32 64,526 14,750 13 25
110 Gulf Canadian Real Estate Investment Co. Real Estate 6.95 6.95 7 0.72 7 7 7 63,000 9,000 2 35
111 Heliopolis Housing Real Estate 50.95 50.95 50.96 0.02 50.51 51 50.51 1,962,766 38,518 43 5,670
112 MEDINET Nasr Housing Real Estate 14.3 14.3 14.24 -0.42 14.2 14.4 14.15 8,039,492 564,539 127 7,120
113 Mena Touristic & Real Estate Investment Real Estate 0.95 0.95 0.95 0 0.93 0.96 0.93 23,056 24,200 6 71
114 National Housing for Professional Syndicates Real Estate 14.64 14.64 14.64 0 13.18 13.2 13.18 1,979 150 2 234
115 National Real Estate Bank for Development Real Estate 7.96 7.96 7.95 -0.13 7.88 8.14 7.88 36,473 4,590 9 41
116 North Africa Co. for Real Estate Investment Real Estate 1.05 1.05 1.05 0 1.04 1.06 1.04 20,297 19,422 15 179
117 Palm Hills Development Company Real Estate 2.38 2.38 2.37 -0.42 2.36 2.39 2.35 27,034,454 11,408,85
7
183 5,472
12. QUARTER REPORT 3rd
Quarter [Q3] 2016
National Bank of Oman – Egypt
Page 12 of 13
Sr Figures in EGP unless specified Sector P.C. Open Close %CHG
Last
Price
High Low Value (LE) Volume Trades
Market Cap
(LE Million)
118 Porto Group Real Estate 0.26 0.26 0.26 0 0.25 0.26 0.25 814,762 3,139,073 28 1,185
119 Six of October Development & Investment (SODIC) Real Estate 12.26 12.26 12.24 -0.16 12.16 12.4 12.1 3,669,434 299,784 138 4,148
120 T M G Holding Real Estate 5.46 5.46 5.43 -0.55 5.41 5.5 5.4 19,138,628 3,527,351 212 11,205
121 United Housing & Development Real Estate 7.07 7.07 7.18 1.56 7.19 7.19 7.17 143,501 20,000 9 1,041
122 ZAHRAA Maadi Investment & Development Real Estate 16 16 16.51 3.19 16.7 16.7 16.5 29,469 1,785 7 908
123 MEDINET Nasr Housing Real Estate 13.24 13.24 13.27 0.23 13.6 13.6 12.91 22,890,413 1,724,993 917 6635
124 International Co for Investment & Development Real Estate 8.09 8.09 8.09 0 8.27 8.27 8.27 2,068 250 1 49
Retail
125 ASSIUT Islamic Trading Retail 5.48 5.48 5.1 -6.93 5.1 5.11 5.1 15,313 3,000 2 30
126 General Silos & Storage Retail 29.2 29.2 28.76 -1.51 28.5 29.6 28.35 796,389 27,695 96 288
127 MISR Duty Free Shops Retail 3.24 3.24 3.23 -0.31 3.23 3.23 3.23 12,875 3,986 2 303
Technology
128 Raya Holding for Technology and Communications Technology 4.39 4.39 4.36 -0.68 4.37 4.37 4.35 27,850 6,394 7 440
Telecommunications
129 Telecom Egypt Telecommunications 9.24 9.24 9.19 -0.54 9.15 9.3 9.1 3,514,519 382,315 186 15,688
130 ORASCOM Telecom Media and Technology Holding Telecommunications 0.54 0.54 0.54 0 0.53 0.54 0.53 3,573,761 6,632,362 87 2,833
131 Global Telecom Holding Telecommunications 4.19 4.19 4.16 -0.72 4.12 4.23 4.12 10,028,996 2,410,227 221 21,822
Market Aggregate 92981760 256262846 2192 216025
Source: Reuters, Egypt Stock Exchange, Mubasher and Research
Egypt | Main Economic Indicators: Consumer Price Index – 1 Year
Core Inflation – 1 Year
Monthly Data Month Latest Previous Year Ago
Consumer Price Index [CPI] [Index Point] AUG/16 190 184 168
Core Inflation
[Year/Year, PCT Change]
AUG/16 13.25 12.31 5.55
GDP Growth (Percent) DEC/15 3.8 4.5 4.5
GDP ($ Billions) DEC/15 331 302 286
Foreign Reserves ($ Billions) AUG/16 16.6 17.6 16.4
Oil Output (BBL/D) JUL/16 493 496 510
Suez Canal (Revenue $ Million) JUL/16 429 418.7 437.7
Money Supply M2 (EGP Billion) JUL/16 2122 2094 1851
13. QUARTER REPORT 3rd
Quarter [Q3] 2016
National Bank of Oman – Egypt
Page 13 of 13
www.nbo.co.om
National Bank of Oman - Egypt, Treasury Division, 133/135 Abdel Aziz Fahmy Street, Heliopolis, Cairo, Egypt
Tel: +20 2 2290 9301
CONTACT
Treasury and Research
Khaled A. Eid (+202) 2290 9301 KhaledEid@nbo.co.om
![QUARTER REPORT 3rd
Quarter [Q3] 2016
National Bank of Oman – Egypt
Page 1 of 13
EGX Summary Close Price 1D% Volume Turnover
EGX30 Index 7,976 0.90% 86,243,509 418,992,832
Banks Sector Index 3,871 1.21% 3,873,060 169,881,750
Financial Sector Index 396 0.21% 22,624,006 62,810,836
Industrial Sector Index 1,053 0.75% 436,826 3,963,674
Source: Egyptian Exchange; Turnover is in EGP
Top Gainers Sector Close Price 1D%
Belton Financial Holding Financial Services 10.71 9.96
Sues Canal for Tech. Settling Personal and Household 11.04 9.42
Al Arafa Inv. & Consultancies Financial Services 0.13 8.33
Natural Gas & Mining Project Oil and Gas 33.83 6.45
Modern Co. For Water Proofing Basic Resources 0.69 4.55
Source: Egyptian Exchange; Close Price is inEGP
Top Losers Sector Close Price 1D%
Delta Sugar Chemicals 9.62 (9.07)
Maridive & Oil Services Oil and Gas 0.26 (3.70)
Misr Fertilizers Production Co Chemicals 29.18 (2.83)
Credit Agricole Egypt Financial Services 22 (2.70)
Ismailia National Food Industry Food and Beverage 3.75 (2.60)
Source: Egyptian Exchange; Close Price is inEGP
Top by Value Traded Turnover Close Price Change %
CIB 865,943,606 48.96 0.14
EFG Hermes 779,970,583 12.41 (0.40)
Global Telecom 643,746,456 3.8 10.26
Palm Hills 474,236,231 2.47 (3.64)
TMG Holding 408,326,145 5.96 (8.39)
Source: Egyptian Exchange; Close Price and turnover are in EGP
Top by Volume Volume Close Price Change %
Orascom Telecom 379,931,323 0.57 (5.26)
Palm Hills 194,595,310 2.47 (3.64)
Qalaa Holdings 164,365,118 1.01 (10.89)
Global Telecom 158,294,220 3.8 10.26
Porto Group 157,905,204 0.27 (3.70)
Source: Egyptian Exchange; Close Price is inEGP
S&P/EGX ESG INDEX vs. S&P Pan Africa BMI
African Markets Close 1D% MTD% YTD% P/E P/B P/S DY
Nigeria 28,263 0.06 3.27 (7.60) 18.9 1.6 2 4.7
Egypt 7,976 (2.59) (0.94) 4.22 12.3 1.4 0.9 3.2
South Africa 51,479 (1.00) (3.79) 4.02 15.7 1.9 1.4 3.7
Morocco 10,015 0.15 0.83 9.85 18.9 2.4 1.9 4.3
Developed Markets Close 1D% MTD% YTD% P/E P/B P/S DY
MSCI World Index 1,729 1.53 (0.52) 8.47 19.1 1.8 1.2 2.7
US (S&P 500) 2,146 (1.42) (1.83) 14.09 20.4 2.8 1.8 2.1
UK (FTSE 100) 6,797 (1.62) (0.28) 14.08 39.5 1.8 1.2 3.8
Germany (DAX) 10,300 (3.07) (2.71) 8.99 20.8 1.6 0.7 2.8
France (CAC) 4,387 (0.45) (0.43) 0.69 20.9 1.4 0.8 3.5
Commodities Close 1D% YTD%
NYMEX Crude 45.62 (0.67) 2.68
Brent Crude 47.06 (0.99) (0.59)
Natural Gas (Henry Hub) 3.01 0.47 16.43
Gold (Comex) 1,342 (0.15) 18.66
Silver (Comex) 19.51 (0.44) 34.20
70.00
90.00
110.00
Sep-15 Dec-15 Mar-16 Jun-16 Sep-16
S&P Pan Africa BMI Rebased S&P/EGX ESG Index Rebased
Source: African Markets, Country’s Stock Exchange, Starcapital.de
Source: Egyptian Exchange and S&P Indices
Source: MSCI, Bloomberg, London SE, Börse Frankfurt (Frankfurt Stock Exchange), Euronext Paris, Starcapital.de
Source: Bloomberg, YCharts](https://image.slidesharecdn.com/3a61a9e1-c0de-4fdd-bb45-8a53617573dc-161019104656/85/Q3-Egypt-Quarter-Report-JUL-SEP-2016-1-320.jpg)
![QUARTER REPORT 3rd
Quarter [Q3] 2016
National Bank of Oman – Egypt
Page 2 of 13
Index / Closing Price 12/2015 3/2016 6/2016 9/2016 % Change
NILEX [SMEs Stock Exchange] 587 632 631 655 3.80%
EGX 30 6981 7524 6942 7976 14.89%
EGX 70 373 367 351 348 -0.85%
EGX 100 789 792 743 786 5.79%
Main Sectors Indices:
[% of Total Market Capitalization]
- Banks (BAN) 23.26%
- Basic Resources (BAS) 2.63% 3167 3197 3263 3898 19.46%
- Construction & Mat. (REA) 3.15% 397 420 325 325 0.00%
- Financial Serv. (FIN) 11.51% 1197 1005 1041 917 -11.91%
- Food & Bev. (FOO) 5.87% 363 399 352 396 12.50%
- Real Estate (HOM) 16.72% 1216 1198 1106 773 -30.11%
- Telecomm. (TEL) 14.23% 1184 1333 1052 1179 12.07%
- Travel & Leisure (TOU) 1.18% 289 390 369 443 20.05%
Source: Egypt Stock Exchange Statistical Bulletin
Banks | Loans and Advances:
USD Million 12/2015 2/2016 3/2016 6/2016
Deposits 216,333 217,844 225,942 239,079
Loans & Advances 88,888 90,062 95,448 105,532
Total Provisions 7,523 7,287 7,725 7,532
Total Provisions to Loans & Advances 8.46% 8.09% 8.09% 7.14%
USD/EGP 8.88
CBE Main Operations:
MPC Meeting DD 17/3/2016 28/4/2016 16/6/2016 22/9/2016
CBE O/N Deposit 10.75% 10.75% 11.75% 11.75%
CBE O/N Lending 11.75% 11.75% 12.75% 12.75%
Source: CBE Statistical Bulletin
In its meeting held on September 22, 2016, the Monetary Policy Committee (MPC) decided to keep
the overnight deposit rate, overnight lending rate, and the rate of the CBE's main operation
unchanged at 11.75 percent, 12.75 percent, and 12.25 percent respectively. The discount rate was
also kept unchanged at 12.25 percent.
3.80%
14.89%
-0.85%
5.79%
-2%
0%
2%
4%
6%
8%
10%
12%
14%
16%
2000
3000
4000
5000
6000
7000
8000
NILEX [SMEs] EGX 30 EGX 70 EGX 100
EGX Indices
Dec-15 Mar-16 Jun-16 Sep-16 % Change
200,000
220,000
240,000
260,000
Deposits
80,000
90,000
100,000
110,000
Loans & Advances
7%
8%
9%
Provisions to Loans
6000
7000
8000
9000
Total Provisions](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)