Despite a challenging economic backdrop, Egypt’s banks have succeeded in growing their assets and maintaining profitability over the past year. Their solid performance has been facilitated by a process of reform that began a decade ago. The banking network comprised 3651 branches in 2013, an increase of 41 branches over the previous year, which resulted in a density of 22,900 people per...
Egypt Financial Services
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For millennia Egypt has been one of the most strategically important places on earth, and often one of its most culturally influential. Despite significant structural issues and the political instability of the past few years, it remains a country of great regional and global importance.
Interviews & Viewpoints | OBG talks to Ali Al Kuwari, Acting Group CEO, Qatar National Bank (QNB) from The Report: Egypt 2013
Articles & Analysis | View from abroad: A largely untapped market is drawing increasing international interest from The Report: Egypt 2013
Entering Egypt’s banking sector has long been a challenging proposition. The large number of domestic players serving a bankable population limited by low salaries and high informal employment has left the Central Bank of Egypt (CBE) reluctant to license new lenders. The last major alteration to the sector’s ownership came in 2004, when the Central...
Articles & Analysis | Sourcing funds: A large-scale T-bill issuance has significantly altered the exposure profiles of local banks from The Report: Egypt 2013
Effectively priced out of the international bond market, the Ministry of Finance has been compelled to turn to the domestic banking sector to meet the demands of the state budget. For local banks faced with reduced borrowing demand, the easy yield offered by a steady supply of treasury bills (T-bills) represents an attractive route to growth....
Articles & Analysis | Leading the way: A look at the top five players in the sector from The Report: Egypt 2013
Ongoing political uncertainty, muted GDP growth and the threat of reduced business volumes that these factors carry with them has resulted in a number of ratings agencies giving Egypt’s banking sector a negative outlook. However, Egypt’s largest banks have demonstrated a high degree of resilience to date, with their bottom lines supported by the...