{"id":566993,"date":"2020-01-09T04:05:55","date_gmt":"2020-01-09T04:05:55","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/09\/egypts-banking-sector-offers-interesting-prospects-for-international-investors\/"},"modified":"2020-01-09T04:05:55","modified_gmt":"2020-01-09T04:05:55","slug":"egypts-banking-sector-offers-interesting-prospects-for-international-investors","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/09\/egypts-banking-sector-offers-interesting-prospects-for-international-investors\/","title":{"rendered":"Egypt\u2019s banking sector offers interesting prospects for international investors"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>Egypt\u2019s banking sector offers solid prospects for international investors:<\/strong> Egypt\u2019s favorable interest rate climate, the relatively small market capitalization of some of the country\u2019s largest banks compared to emerging market peers, and a largely unbanked population are all draws for international investors, <a href=\"https:\/\/seekingalpha.com\/article\/4315423-why-egyptian-banks-are-appealing\">Dylan Waller writes in Seeking Alpha<\/a>. Indicators are moving in the right direction after the 2016 float of the EGP: falling inflation, an increase in foreign exchange reserves, a reduction to the current account deficit, and an increasingly stable EGP are backed by robust economic growth, which banks are now set to capitalize on, Waller argues.<\/p>\n<p><strong>Know this: <\/strong>Bank loans in Egypt grew 13.6% y-o-y and deposits grew 12.3% y-o-y in FY2018-2019, while the total number of debit and credit cards in use has nearly doubled since FY2010-2011.<\/p>\n<p><strong>Interest rates continue to outperform EM peers despite easing cycle:<\/strong> Declining interest rates have allowed banks to enjoy healthy net interest margins, but the benchmark rate in Egypt remains higher than many other EMs. And reductions in the cost of capital will support local businesses, as well as banks such as CIB that provide loans to them. Meanwhile, factors including the relatively small market capitalization of some of the largest banks in Egypt, compared with their EM peers (CIB has a market capitalization of USD 7.4 bn), and the country\u2019s large unbanked population (only an estimated 32.8% of Egypt\u2019s population currently has access to a bank), shows how much room there is for growth.<\/p>\n<p><strong>What\u2019s Seeking Alpha tipping? Start with CIB<\/strong>, Waller\u2019s go-to option for international investors to gain exposure to Egypt\u2019s banking sector. The largest bank in Egypt in terms of net income and assets, CIB has \u201can exceptional retail footprint in Egypt\u201d and has delivered bottom-line growth of 450% between 2009 and 2019, Waller says. The bank\u2019s stock price also remained relatively strong during Egypt\u2019s last economic downturn, he notes.<\/p>\n<p><strong>Then look at Global X MSCI Egypt ETF<\/strong>, which offers broad exposure to the stock market, investing over 20% of its assets in the financial services sector in Egypt, while also offering exposure to some of the country\u2019s top consumer and healthcare companies, including Cleopatra Hospitals, Eastern Tobacco, Juhayna, and Telecom Egypt. The ETF is trading at a near three-year low, Waller argues.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Egypt\u2019s banking sector offers solid prospects for international investors: Egypt\u2019s favorable interest rate climate, the relatively small market capitalization of some of the country\u2019s largest banks compared to emerging market peers, and a largely unbanked population are all draws for international investors, Dylan Waller writes in Seeking Alpha. Indicators are moving in the right direction [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":566994,"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":[8572],"tags":[204,240,72,164,2108,182,125,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-566993","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-banking","tag-cib","tag-enterpriseam","tag-equities","tag-etfs","tag-inflation","tag-investment-watch","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"e23790e2-2a6d-4d14-ad97-06b28577b368","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2020\/1\/553.jpg","photo_position":"above","related_issue":[566988],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Egypt\u2019s banking sector offers interesting prospects for international investors - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2020\/01\/09\/egypts-banking-sector-offers-interesting-prospects-for-international-investors\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt\u2019s banking sector offers interesting prospects for international investors\" \/>\n<meta property=\"og:description\" content=\"Egypt\u2019s banking sector offers solid prospects for international investors: Egypt\u2019s favorable interest rate climate, the relatively small market capitalization of some of the country\u2019s largest banks compared to emerging market peers, and a largely unbanked population are all draws for international investors, Dylan Waller writes in Seeking Alpha. Indicators are moving in the right direction [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/01\/09\/egypts-banking-sector-offers-interesting-prospects-for-international-investors\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-01-09T04:05:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/553.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/01\/09\/egypts-banking-sector-offers-interesting-prospects-for-international-investors\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/01\/09\/egypts-banking-sector-offers-interesting-prospects-for-international-investors\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt\u2019s banking sector offers interesting prospects for international investors\",\"datePublished\":\"2020-01-09T04:05:55+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/01\/09\/egypts-banking-sector-offers-interesting-prospects-for-international-investors\/\"},\"wordCount\":389,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/01\/09\/egypts-banking-sector-offers-interesting-prospects-for-international-investors\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/553.jpg?fit=%2C&ssl=1\",\"keywords\":[\"banking\",\"CIB\",\"EnterpriseAM\",\"equities\",\"ETFs\",\"inflation\",\"investment watch\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/01\/09\/egypts-banking-sector-offers-interesting-prospects-for-international-investors\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/01\/09\/egypts-banking-sector-offers-interesting-prospects-for-international-investors\/\",\"name\":\"Egypt\u2019s banking sector offers interesting prospects for international investors - 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banking system: Moody\u2019s Investors Service said in a report on Monday (pdf) that it has maintained its positive outlook on Egypt\u2019s banking system amid \u201can improving operating environment.\u201dStable funding and liquidity in EGP, FX to remain under pressure: The ratings agency said banks will\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/2\/994.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":644803,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/04\/fitch-says-egypt-banks-fx-liquidity-to-improve-as-transfer-cap-ends\/","url_meta":{"origin":566993,"position":1},"title":"Fitch says Egypt Banks' FX liquidity to improve as transfer cap ends","author":"enterpriseam admin","date":"4 July 2017","format":false,"excerpt":"Fitch says Egypt Banks' FX liquidity to 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The report takes the view the\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":575989,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/05\/net-foreign-assets-in-egyptian-banks-surge-in-september\/","url_meta":{"origin":566993,"position":3},"title":"Net foreign assets in Egyptian banks surge in September","author":"enterpriseam admin","date":"5 November 2020","format":false,"excerpt":"Net foreign assets in Egypt\u2019s banking sector surged by 32% m-o-m in September, as foreigners continue to return to government treasuries after selling out of global emerging markets in the early weeks of the pandemic. Central bank data picked up by Al Mal shows assets rose to USD 14.03 bn\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":651846,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/22\/bankers-acknowledge-cbe-investors-associations-agreement-on-settling-pre-float-lcs\/","url_meta":{"origin":566993,"position":4},"title":"Bankers acknowledge CBE, Investors Associations agreement on settling pre-float LCs","author":"enterpriseam admin","date":"22 February 2017","format":false,"excerpt":"Bankers acknowledge CBE, Investors Associations agreement on settling pre-float LCs: Senior banking sector officials appeared to confirm to Reuters that the CBE has indeed reached the agreement which we noted yesterday with the Union of Egyptian Investors Associations (UEIA) on settling LC debt spikes incurred following the EGP float. Under\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":565603,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/19\/egypts-banking-sector-likely-second-fastest-growing-in-mena-efg-says-in-earnings-preview\/","url_meta":{"origin":566993,"position":5},"title":"Egypt\u2019s banking sector likely second fastest-growing in MENA, EFG says in earnings preview","author":"enterpriseam admin","date":"19 April 2021","format":false,"excerpt":"Aggregate earnings of Egypt\u2019s listed banks are expected to have grown 10% y-o-y in 1Q2021, reversing a trend of anemic bottomline growth in 2020 as lenders were forced to shore up loan loss provisions last year amid worries over pandemic-linked bad loans, EFG Hermes said in a note to clients\u2026","rel":"","context":"In &quot;SPEED ROUND: BANKING&quot;","block_context":{"text":"SPEED ROUND: BANKING","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-banking\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/4\/455.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\/566993","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=566993"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/566993\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/566988"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/566994"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=566993"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=566993"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=566993"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=566993"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=566993"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}