The net profits of banks operating in the Egyptian market recorded about EGP 93.396bn in September 2022, compared to about EGP 56.8bn in June 2022.
CBE’s quarterly report, issued on Wednesday, revealed that net returns in banks amounted to EGP 225.807bn in September 2022, compared to EGP 141.032bn in June.
According to the report, the net revenues of the activity amounted to about EGP 272.230bn, compared to EGP 171.462bn, while the total expenses recorded about EGP 178.8bn, compared to EGP 114.595bn.
The top ten banks acquired 78.29% of bank profits, recording EGP 73.125bn in September, while the top five banks acquired 65.1% of the sector’s profits, recording EGP 60.894bn in September.
The list of those banks is topped by the National Bank of Egypt (NBE), CIB, Banque du Caire, QNB Alahli, Credit Agricole – Egypt, Faisal Islamic Bank of Egypt, and HDB.
The report revealed that the net revenues of the big five banks recorded EGP 144.194bn, net activity revenues EGP 174.9bn, and total expenses EGP 114.042bn by the end of September.
This comes at a time when the net returns of the top ten banks amounted to about EGP 170.721bn, and the net revenues of activity amounted to about EGP 206.980bn, while the total expenses amounted to EGP 133.8bn by the end of September.
CBE said that the return on average assets in banks recorded 1.2% in September 2022, without significant change since the beginning of the year, and the return on average equity recorded 16.19%, while the net margin of return reached 4.2%.
He 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 CBE, the return on average assets of the five largest banks was 1.3%, and the return on average equity was 21%, while the net margin of return reached 4.3%.
