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Largest 10 banks acquired 72.11% of total deposits until September 2016: CBE - Daily News Egypt

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Largest 10 banks acquired 72.11% of total deposits until September 2016: CBE

The share of the largest five banks of total deposits reaches 58.9%; government banks are at the top


The largest 10 banks have acquired about 72.11% of total bank deposits in the Egyptian market until September 2016, according to the Central Bank of Egypt (CBE).

The CBE explained in a report that total bank deposits until September reached EGP 2.1955tn, including EGP 1.2934tn in the largest five banks.

The CBE had not revealed the name of these five large banks; however, it is known that they are topped by the three government banks, including the National Bank of Egypt (NBE), Banque Misr, and Banque du Caire. They are the three banks with the largest geographical presence, and the largest client base in the Egyptian banking sector.

According to the CBE, the largest five banks in Egypt have acquired about 58.9% of total bank deposits, as their deposits reached EGP 1.3455tn.

In the same context, the CBE’s report revealed that the loans to deposits ratio in banks working in the Egyptian market has declined to 44.2% in September 2016, compared to 44.5% in June. The loans to deposits ratio in the local currency declined to 38.7% in September, compared to 39.5% in June. On the other hand, loans in foreign currencies have increased to 66.4% in September, compared to 64.1% in June.

According to CBE, the rate of loans in the largest 10 banks in Egypt reached 41.9% by the end of September 2016. The loans to deposits ratio in the local currency reached 36.6%, whereas the loans to deposits ration in the foreign currency reached 63.8%.

In the largest five banks, the loans to deposits ratio reached 42.7%, where the loans to deposits ratio reached 42.7% in the local currency, and 66.8% in the foreign currency.

“The total capital of banks working in the Egyptian market reached EGP 100.726bn, including EGP 56.364bn being the capital of the largest 10 banks, and EGP 48.869bn the capital of the largest five banks,” the CBE said.

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https://ww.dailynewssegypt.com/2017/01/09/609245/
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