Banks operating within the Egyptian market achieved a total net profit of EGP 56.86 billion during the first half of 2022 revealed new data released by the Central Bank of Egypt (CBE).

In its quarterly report on financial safety indicators for banks, the CBE disclosed that banks saw a net return of EGP 141.03 billion during H1 2022, with net activity revenues recording EGP 171.46 billion and expenses at EGP 114.59 billion.

Overall, the total financial position of banks operating in the Egyptian market, excluding the CBE, hit EGP 10.03 trillion in H1 2022.

The top 10 banks operating in the Egyptian market received 77.63% of banks’ total net profits, with combined net profits of EGP 44.14 billion. Together, they achieved a net return of EGP 106.95 billion, net activity revenues of EGP 130.53 billion, and total expenses of EGP 86.38 billion.

Broken down further, the five largest banks received 64.1% of all banks’ net profits to hit EGP 36.49 billion.

Together, these five banks achieved a net return of EGP 90.02 billion, net activity revenues of EGP 109.84 billion, and total expenses of EGP 73.34 billion.

In June 2022, cash balance in banks were recorded at around EGP 76.53 billion. Balances with banks abroad reached EGP 222.07 billion. Lending and discount balances to customers recorded around EGP 3.56 trillion while the stock portfolio and banks’ investments in treasury bills recorded EGP 3.73 trillion.

On liabilities, the central bank revealed that banks’ capital reached around EGP 234.69 billion, reserves at around EGP 428.92 billion, while the balance of provisions amounted to about EGP 219.58 billion.

The commitments of banks towards each other in Egypt amounted to about EGP 303.22 billion, while their obligations to banks abroad recorded EGP 219.25 billion. The total deposits amounted to about EGP 7.35 trillion while the balances of bonds and long-term loans amounted to EGP 371.38 billion.