Egypt banking system outlook is stable on robust growth, high liquidity: Moody’s – Egypttoday

Egypt banking system outlook is stable on robust growth, high liquidity: Moody’s – Egypttoday

Egypt banking system outlook is stable on robust growth, high liquidity: Moody's. "The economy is growing robustly - we project real GDP growth of 5.8% in 2020 - supported by declining interest rates," said Constantinos Kypreos, Senior Vice President at Moody's. ". And banks retain good access to stable, deposit-based funding and are very liquid, especially in local currency.". Moody's expects banks' profitability to improve, bolstered by strong balance-sheet growth - with a projected acceleration in credit growth by 12%-15%, supported by declining interest rates and government funding initiatives for the industrial, tourism and mortgage sectors - and by a recovery in net interest margins as high-yielding certificates of deposits offered by state-owned banks mature..