The five largest banks in Egypt acquired 71.47% of the total profits made by banks operating in the Egyptian market as of the end of June, according to the Central Bank of Egypt (CBE). The net profit of the biggest five banks in the market registered EGP 23.66bn, equivalent to 71.47% of the total profit of all banks operating in Egypt. The top 10 banks realised a net profit of EGP 27.512bn, equivalent to about 83.10% of the total profits made by banks. The share of the largest five banks reached EGP 43.62bn, equivalent to about 68.42% of the total interest made by the banks combined. The largest five banks alone recorded a net operating income of EGP 55.86bn, 66.05% of the total net operating income of the banking sector.

Source: Daily News Egypt October 16, 2016 13:52 UTC