Banks working in the Egyptian market achieved net profits of EGP 53.066bn during the period until December 2016, according to the Central Bank of Egypt (CBE). The CBE revealed in its report that the five largest banks working in Egypt have acquired about 42.66% of the total profits, recording EGP 22.641bn. It added that the 10 largest banks’ net profits reached EGP 33.866bn, equivalent to 63.81% of total profits. The net yield achieved by the banks operating in Egypt until the end of December 2016 reached EGP 100.388bn. The share of the 10 largest banks reached EGP 68.614bn, equivalent to 68.34%, while the five largest banks recorded net yields of EGP 50.156bn, equivalent to 49.96% of the banks’ total yields.

Source: Daily News Egypt March 26, 2017 06:11 UTC