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

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

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