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Egypt Banking Sector Analysis

Egypt Banking Sector Analysis

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Publish Date : Feb, 2011| No. of Pages : 75

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When all the major economies of the world have been adversely hit by the financial crisis, the Egyptian banking industry remains largely stable, reflecting its relative isolation from and resilience to the global crisis. Egypt has shown considerable progress in the banking sector reforms over the years. The central bank’s NPL management plan has helped banks to settle around 90% of total outstanding NPLs. With the rapid merger and acquisitions in the recent past, the banking sector has become more strong and efficient. The number of banks operating in Egypt reduced to 39 as of the end of FY 2009 from 43 in FY 2006.

As per our latest industry report titled “Egypt Banking Sector Analysis”, Egyptian banks have significantly intensified their lending activity during the past few years. Credit facilities provided to the business segment contribute to the majority of bank loans. However, external sector loans are experiencing rapid expansion on account of rise in loans to the private business segment, which are mostly provided to the trade sector in foreign currency. In future, banks are expected to further intensify their lending activities with rising demand for loans from domestic as well as external sector. Resultantly, bank loans are expected to grow at a CAGR of about 6.7% during FY 2011 - FY 2014.

As per our team of experts, Egyptian banks have not only witnessed growth in lending activities, but have also seen reckonable growth in the deposits on rising consumer confidence on the system. With rapid expansion in household and business sector deposits, the country is expected to witness a thriving influx of deposits during the forecast period. Further, time and saving deposits will account for the majority of growth.

Besides, we have analyzed the pattern of macroeconomic variables and their impact on the banking sector of the country. Our report has also identified emerging industry trends, which will decide the future of the Egyptian banking sector and the key players in the country’s banking system along with their detail business description and recent activities.

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