Bank profits reach $3.17bln in June: Egypt’s CBE

SectorFinancial Markets

The Central Bank of Egypt (CBE) announced that total profits reported by banks operating in the Egyptian market amounted to about EGP 50.049bn at the end of June 2020.In a report released on Wednesday, the CBE revealed that the top ten banks in the Egyptian market acquired about 82.79% of total bank profits, reporting about EGP 41.439bn in June 2020.The National Bank of Egypt (NBE), Banque Misr, Commercial International Bank – Egypt (CIB), Banque du Caire, QNB Alahli, Credit Agricole – Egypt, the Faisal Islamic Bank of Egypt, and the Housing and Development Bank (HDB) topped the list of those banks. The five biggest banks in the market acquired about 71.15% of the reported profits, to record about EGP 35.610bn by the end of June 2020.Banks scored about EGP 136.896bn more...