The Central Bank of Egypt (CBE) has revealed that the net profits of banks operating in the Egyptian market increased to about EGP 130.844bn in December 2022, compared to EGP 93.396bn in September 2022.
In a recent report issued Wednesday, the Central Bank stated that the net revenues in banks amounted to about EGP 331.202bn in December, compared to EGP 225.807bn in September, while net activity revenues amounted to about EGP 407.592bn, compared to EGP 272.230bn, and total expenses recorded about EGP 276.758bn compared to EGP 178.8bn.
According to the CBE, the top ten banks acquired about 77.59% of total bank profits, recording about EGP 101.525bn in December 2022, compared to about EGP 73.125bn in September, while the five big banks acquired about 64.32% of the sector’s profits, recording EGP 84.162bn.
The list of these banks is topped by the National Bank of Egypt, Banque Misr, the Commercial International Bank, Banque du Caire, QNB Alahli, Credit Agricole – Egypt, Faisal Islamic Bank of Egypt, and theHousing and Development Bank.
The Central Bank stated that the net return of the top 10 banks reached EGP 247.968bn in December 2022, net activity revenues of EGP 303.540bn, and their total expenses amounted to EGP 202.015bn.
This comes at a time when the net returns of the 5 big banks amounted to about EGP 216.375bn, and net activity revenues amounted to about EGP 265.630bn, while their total expenses amounted to about EGP 171.468bn in September.
The central bank said that the return on average assets in banks recorded 1.2% in December 2022, without significant change since the beginning of the year, and the return on average equity recorded 16.1%, while the net margin of return reached 4.2%.
It pointed out that the return on average assets in the 10 largest banks amounted to 1.4%, and the return on average equity recorded 20.2%, while the net margin of return reached 4.3%.
According to the Central Bank, the return on average assets of the 5 largest banks was 1.3%, and the return on average equity was 21%, while the net margin of return reached 4.3%.