Central Banks of Egypt – File Photo
CAIRO - 19 June 2022: The five largest banks in Egypt accounted for 69.2 percent of the total deposits of the banking sector by the end of March 2022, to record LE4.817 trillion, out of about LE 6.961 trillion, representing the total deposits in the banking sector as a whole.
A Central Bank report revealed that the capital of the five major banks amounted to about LE 109.599 billion, accounting for 47.6 percent of the total banks' capital amounting to LE 229.834 billion at the end of last March.
The big five banks also acquired 61.7 percent of the banking sector’s allocations, to record LE 129.621 billion, out of the total allocations amounting toLE 209.750 billion, while the total reserves of these banks amounted to LE 259.343 billion, accounting for 59 percent of the total reserves in the banking sector amounting to LE 439.217 billion.
According to the CBE, the net profits of the five largest banks in the banking sector amounted to about LE 26.875 billion pounds, accounting for 72.9 percent of the total profits of the banking sector.
The net return of the five largest banks amounted to LE 54.572 billion, and net revenues hit about LE 63.2 billion, while total expenses amounted to about LE 36.325 billion.