{"id":545636,"date":"2022-04-06T04:04:56","date_gmt":"2022-04-06T04:04:56","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/06\/egyptian-banks-arent-likely-to-be-hit-by-fallout-from-russias-war-in-ukraine-sp\/"},"modified":"2022-04-06T04:04:56","modified_gmt":"2022-04-06T04:04:56","slug":"egyptian-banks-arent-likely-to-be-hit-by-fallout-from-russias-war-in-ukraine-sp","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/06\/egyptian-banks-arent-likely-to-be-hit-by-fallout-from-russias-war-in-ukraine-sp\/","title":{"rendered":"Egyptian banks aren\u2019t likely to be hit by fallout from Russia\u2019s war in Ukraine \u2013S&P"},"content":{"rendered":"

<\/a> Rated Egyptian banks have little direct exposure to Russian and Ukrainian assets<\/strong>, according to an S&P Global Ratings report looking at the impact of the war on the banking sector in eight Middle East and African markets. \u201cWe do not expect the conflict will have significant direct effects on bank asset quality indicators,\u201d the report read.<\/p>\n

The impact on banks of the EGP\u2019s depreciation is also set to be limited <\/strong>given that foreign-currency lending accounts for only 20% of the loan books of the banks S&P concerns.<\/p>\n

And from the Dept. of the Obvious: <\/strong>Credit losses in the sector could tick up on the back of turbulence in the wider economy given all that\u2019s going on right now, the rating agency suggests.<\/p>\n

Local banks face no funding or liquidity challenges<\/strong>, according to the report. Our banking sector has an \u201cample\u201d local customer deposit base, \u201cwhere growth has proven resilient even at times of weakened stability,\u201d S&P said, adding that it expects leverage to remain low at a loan-to-debt ratio of around 50% throughout 2022.<\/p>\n

The <\/strong>18% CDs<\/a><\/strong> offered by state-owned banks <\/strong>Banque Misr and National Bank of Egypt after the central bank upped interest rates put pressure on banks\u2019 net interest margins<\/strong>, depending on uptake and whether private banks follow suit. Investors had poured some EGP 423 bn into the CDs as of Monday, Al Arabiya<\/a> reports.<\/p>\n

IMF support could help mitigate overall economic risks<\/strong> in Egypt in general and to the banking sector in particular, the report suggests. The government is in talks<\/a> with the international lender over a fresh round of assistance, following two rounds of funding in 2016 (coinciding with the float of the EGP<\/a>) and in 2020 (amid the pandemic<\/a>) totaling USD 20 bn.<\/p>\n

ELSEWHERE IN THE REGION- <\/strong>The main risks across the region remain high food and oil prices and a decreased risk appetite in emerging markets among investors, the report notes. Banks in Turkey and Tunisia are most exposed to the impact of Russia\u2019s war, the report read, while Saudi, Emirati and South African banks show little to no vulnerability.<\/p>\n","protected":false},"excerpt":{"rendered":"

Rated Egyptian banks have little direct exposure to Russian and Ukrainian assets, according to an S&P Global Ratings report looking at the impact of the war on the banking sector in eight Middle East and African markets. \u201cWe do not expect the conflict will have significant direct effects on bank asset quality indicators,\u201d the report […]<\/p>\n","protected":false},"author":1,"featured_media":545637,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7350],"tags":[204,72,1095],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-545636","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-banking","tag-enterpriseam","tag-russia-ukraine-war","wpautop","entry"],"acf":{"mongo_id":"0e54b528-8975-4ea9-9746-0b22b2f03984","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/4\/140.jpg","photo_position":"above","related_issue":[545625],"teaser":"","voice_url":""},"yoast_head":"\nEgyptian banks aren\u2019t likely to be hit by fallout from Russia\u2019s war in Ukraine \u2013S&P - 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Fitch had in July revised its outlook for the banking sector from negative to stable, \u201creflecting the stable outlook on the operating environment,\u201d according to the report.What\u2019s\u2026","rel":"","context":"In "Banking"","block_context":{"text":"Banking","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/banking\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/83.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":578916,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/18\/resilient-banks-reduced-price-bread\/","url_meta":{"origin":545636,"position":1},"title":"Resilient banks + reduced-price bread","author":"enterpriseam admin","date":"18 January 2023","format":false,"excerpt":"It was banking and bread on the airwaves last night: The attention of the talking heads was captured by a new report from Fitch Ratings with positive things to say about the resilience of our banking sector in the face of the EGP devaluation, as well as more details on\u2026","rel":"","context":"In "LAST NIGHT\u2019S TALK SHOWS"","block_context":{"text":"LAST NIGHT\u2019S TALK SHOWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/303.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":597153,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/17\/imf-rise-of-e-banking-poised-to-surpass-traditional-banking-solutions\/","url_meta":{"origin":545636,"position":2},"title":"IMF: Rise of e-banking poised to \u2018surpass\u2019 traditional banking solutions","author":"enterpriseam admin","date":"17 July 2019","format":false,"excerpt":"Banks could be \u201cleft behind\u201d as e-money poised to eclipse traditional currency -IMF: Banks will need to evolve or run the risk of being \u201cleft behind\u201d by e-banking solutions offered by big tech companies, according to an IMF report (pdf). The fund predicts that e-money \u2014 a means of digitally\u2026","rel":"","context":"In "THE MACRO PICTURE"","block_context":{"text":"THE MACRO PICTURE","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-macro-picture\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/7\/159.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":596651,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/03\/kharafi-national-signs-egp-750-mn-syndicated-loan-with-four-egyptian-banks\/","url_meta":{"origin":545636,"position":3},"title":"Kharafi National signs EGP 750 mn syndicated loan with four Egyptian banks","author":"enterpriseam admin","date":"3 July 2019","format":false,"excerpt":"Pan-Arabian infrastructure contractor Kharafi National has signed a syndicated loan agreement with four local banks led by SAIB Bank to arrange a EGP 750 mn facility, the bank said, according to a local press report. The consortium also includes the Export Development Bank Of Egypt, the Industrial Development Bank, and\u2026","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":590897,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/27\/last-nights-talk-shows-on-the-russia-africa-summit-digital-banking-blackouts\/","url_meta":{"origin":545636,"position":4},"title":"Last Night\u2019s Talk Shows: On the Russia-Africa Summit, digital banking + blackouts","author":"enterpriseam admin","date":"27 July 2023","format":false,"excerpt":"The summit will see discussions on the future of the Black Sea grain pact","rel":"","context":"In "LAST NIGHT\u2019S TALK SHOWS"","block_context":{"text":"LAST NIGHT\u2019S TALK SHOWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/7\/1119.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/545636","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=545636"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/545636\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/545625"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/545637"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=545636"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=545636"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=545636"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=545636"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=545636"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}