Egypt: Banking Sector's Profit Exceed EGP 50 Billion

Published September 24th, 2020 - 08:30 GMT
Egypt: Banking Sector's Profit Exceed EGP 50 Billion
Net interest stood at EGP 136.89 billion until June 30th, the Central Bank of Egypt (CBE) indicated. (Shutterstock)
Highlights
Egyptian banks’ total expenses reached EGP 119.16 billion, while the net operating income totaled EGP 169.21 billion.
Banks operating in Egypt achieved a net profit of EGP 50.04 billion at the end of June, according to official data by the central bank.


Net interest stood at EGP 136.89 billion until June 30th, the Central Bank of Egypt (CBE) indicated.

Egyptian banks’ total expenses reached EGP 119.16 billion, while the net operating income totaled EGP 169.21 billion.

The banks operating in the Arab republic recorded total assets of EGP 6.40 trillion at the end of June, the CBE showed.

Capital, meanwhile, came at EGP 173.70 billion, while reserves reached EGP 319.81 billion.

Provisions of the banking sector stood at EGP 150.07 billion until June 30th, the CBE said, noting that total deposits registered EGP 4.68 trillion.

The top 10 banks in the Egyptian market have reportedly achieved a net profit of EGP 41.43 billion and net returns of about EGP 108.86 billion.

Their net revenues totaled EGP 134.56 billion, while total expenses recorded EGP 93.12 billion at the end of June.

The capital of Egypt’s top 10 banks reached EGP 120.10 billion, while reserves amounted to EGP 239.96 billion.

The CBE said the combined assets of the 10 banks stood at EGP 4.95 trillion until June 30th.


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