Banks operating in the Egyptian market achieved net profits of EGP 47.381bn by the end of the first half (H1) of 2017, according to the Central Bank of Egypt (CBE). According to a recent report by the CBE, the top five banks account for 69.52% of the total profits realised by banks operating in the Egyptian market. The top 10 banks posted profits of EGP 38.072bn, equivalent to about 80.352% of total bank profits. According to the CBE, these profits were achieved for private banks during the period from 1 January, 2017, until the end of June. According to the CBE, the net profits achieved by banks until the end of June 2017 was about EGP 89.873bn.

Source: Daily News Egypt October 01, 2017 07:52 UTC