The number of credit cards of banks operating in the Egyptian market increased to about 5.858 million cards by the end of June 2017 compared to 3.859 million cards in December 2016, an increase of roughly 2 million cards, according to the Central Bank of Egypt (CBE). Furthermore, the number of bank discount cards jumped to 17.562 million in June 2017, compared to 12.562 million in December 2016, an increase of 5 million cards. In the same context, the CBE revealed that the number of prepaid cards issued by banks operating in the local market increased to 10.052 million cards by the end of June 2017, compared with 8.648 million cards by the end of December 2016, an increase of 1.404 million cards. The five largest banks account for 86.112% of the total cards, with the top ten accounting for 88.385%. About 46,435 employees work in the largest five banks in Egypt, which is about 41.622% of the total number of employees in the sector.

Source: Daily News Egypt October 01, 2017 08:26 UTC