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Fitch Ratings

Fitch upgrades credit ratings of four Egyptian banks following sovereign rating upgrade

The outlook for the Egyptian banking sector appears stable, with real GDP growth projected to accelerate from 2.4% in 2023 to 4.2% in 2025 and 5.4% in 2026.

Fitch upgrades Egypt’s credit rating to ‘B’ with stable outlook

The agency highlighted that the upgrade is driven by recent foreign investment inflows, particularly from the Ras El-Hekma deal, which has significantly strengthened Egypt’s foreign exchange reserves.

Fitch Solutions forecasts steady economic recovery for Egypt, reaffirms growth expectations

Fitch Solutions affirmed its economic forecast for Egypt’s growth in the current fiscal year (FY2024/2025), citing increased investment, a rebound in the manufacturing sector, and the expected resolution of the Gaza conflict by late 2024

Fitch Ratings upgrades outlook of 4 local banks to positive, reflects increased confidence in economy

The ratings agency updated its outlook for the National Bank of Egypt, Banque Misr, Banque du Caire, and the Commercial International Bank (CIB) to positive

BMI shows cautious optimism for Egypt’s economic growth in FY 2024/2025

BMI Research revised its growth expectations for Egypt to 3.2% for the current fiscal year FY2023/2024 and 4.2% in 2024/2025