{"id":648819,"date":"2017-04-12T04:12:39","date_gmt":"2017-04-12T04:12:39","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/04\/12\/egypts-banking-sector-sees-robust-year-on-year-growth\/"},"modified":"2017-04-12T04:12:39","modified_gmt":"2017-04-12T04:12:39","slug":"egypts-banking-sector-sees-robust-year-on-year-growth","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/04\/12\/egypts-banking-sector-sees-robust-year-on-year-growth\/","title":{"rendered":"Egypt\u2019s banking sector sees robust year-on-year growth"},"content":{"rendered":"

Releases from Egypt\u2019s major banks for FY2015-16 indicate that the country\u2019s banking sector has seen robust year-on-year growth amid a stable outlook from Fitch, Oxford Business Group says<\/a> in its monthly report on Egypt. According to the report, Banque Misr and the National Bank of Egypt each reported year-on-year increases in net income after taxes. Meanwhile, foreign-owned banks, including Bank Audi and Abu Dhabi\u2019s Union National Bank have announced plans to expand in Egypt. Government securities have also shored up local currency liquidity, OBG says: \u201cGovernment bonds have made up a large share of bank\u2019s assets in recent years, as the state has looked to finance its budget deficit by issuing debt in local currency. There are positive signs for banks in this, though planned fiscal tightening could lead to a tapering of bond assets available in the medium term, prompting banks to look for new places to park capital.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Releases from Egypt\u2019s major banks for FY2015-16 indicate that the country\u2019s banking sector has seen robust year-on-year growth amid a stable outlook from Fitch, Oxford Business Group says in its monthly report on Egypt. According to the report, Banque Misr and the National Bank of Egypt each reported year-on-year increases in net income after taxes. 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Ahli United Bank could be looking to sell its Egypt arm after its recent acquisition by Kuwait Finance House (KFH), the local press reported, citing unnamed sources. 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Indicators are\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/553.jpg?fit=%2C&ssl=1&resize=350%2C200","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":648819,"position":2},"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 "SPEED ROUND: BANKING"","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":[]},{"id":545636,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/06\/egyptian-banks-arent-likely-to-be-hit-by-fallout-from-russias-war-in-ukraine-sp\/","url_meta":{"origin":648819,"position":3},"title":"Egyptian banks aren\u2019t likely to be hit by fallout from Russia\u2019s war in Ukraine \u2013S&P","author":"enterpriseam admin","date":"6 April 2022","format":false,"excerpt":"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\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\/2022\/4\/140.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":568843,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/05\/demand-for-acquisitions-in-egypts-banking-sector-is-soaring-but-nobody-really-wants-to-sell\/","url_meta":{"origin":648819,"position":4},"title":"Demand for acquisitions in Egypt\u2019s banking sector is soaring \u2014 but nobody really wants to sell","author":"enterpriseam admin","date":"5 February 2020","format":false,"excerpt":"M&A WATCH- With profits hitting record highs, Egypt\u2019s banks are ripe M&A targets \u2014 but nobody really wants to sell, Bloomberg says. \u201cIt\u2019s more of a question of who\u2019s willing to sell than who\u2019s willing to buy. They\u2019re rarely up for sale,\u201d Naeem Brokerage head of research Allen Sandeep tells\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/2\/72.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":648819,"position":5},"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. 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