Banks operating in the Egyptian market achieved a total net profit of EGP 56.868bn in the first half (1H) of 2022. The Central Bank indicated that the top ten banks acquired 77.63% of the banks’ total net profits, as they achieved net profits of EGP 44.148bn. It added that the top 10 banks achieved a net return of EGP 106.959bn, net activity revenues amounted to EGP 130.534bn, and total expenses of EGP 86.385bn. According to the Central Bank, the five largest banks accounted for 64.1% of the banks’ net profits, as their net profits amounted to EGP 36.495bn. The commitments of banks towards each other in Egypt amounted to about EGP 303.226bn, while their obligations to banks abroad recorded EGP 219.252bn.

Source: Daily News Egypt September 20, 2022 13:45 UTC