Bank profits soar to EGP130.844 bn by end of 2022

The Central Bank of Egypt revealed, in its latest quarterly report, that net profits of banks operating in the Egyptian market increased to EGP130.844 bn by the end of December 2022.

CBE added that the banks achieved a net return of EGP 331.202 bn, while net activity revenues recorded EGP 407.592 bn,  total expenses of EGP 276.748 billion by end of 2022.

The report indicated that 10 large banks achieved net profits of EGP 101.525 bn, 77.5% of the banking sector's profits

Net returns of 10 large banks recorded 247.968 bn, net activity revenues recorded 303.540 bn, and total expenses of EGP202.012 bn.