It has been an interesting year for the Egyptian Exchange (EGX). In 2015 the main board featured the highest number of listed companies since 2010, while products such as the nation’s first exchange-traded fund (ETF) provided a deeper market and new investment options. After years of crisis management in the wake of the 2011 revolution, the exchange authorities have re-established an outward-...
Egypt Financial Services
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Chapter | Capital Markets from The Report: Egypt 2016
Benefitting from the nation’s increasing economic stability over the past year, Egypt’s banks have enjoyed both ratings upgrades and continued profitability. Thanks to an ambitious government development strategy and new investment legislation, the project finance pipeline is returning to form after a period of muted activity. Elsewhere on the aggregate loan book, competition is heating up to...
Located at a crossroads between Africa, Asia and Europe, Egypt remains one of the world’s most strategically important countries, as it has been for millennia. Egypt has the third-largest GDP in the Arab world, after oil-rich Saudi Arabia and the UAE. It is considerably more diversified than many economies in the region, with manufacturing and agriculture key contributors, making up 14.5% and 15.7% of GDP, respectively, according to the Central Bank of Egypt, as well as oil and gas extraction.
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...
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.
Although the summer of 2013 saw increased political risk and uncertainty in the country’s broader macroeconomic environment, the positive financial results of Egypt’s banking sector over 2012 and into 2013 attest to its overall resilience. A history of conservative regulation has enabled the sector to ride out the economic crisis and most in the industry expect it to successfully weather the...