CBE: Top 5 Banks Account for 46.29% of Egypt's Banking Sector Net Profits, Worth EGP 25.587 Bn
In its latest quarterly report, the Central Bank of Egypt revealed that top 5 banks in the Egyptian market achieved a net profit of EGP 25.587 bn in the first quarter of 2023, representing 46.29% of the banking sector's profits.
The largest 5 banks accounted for 61.34% of the total net income, amounting to EGP 72.147 bn in March 2023 out of a total net income of EGP 117.616 bn.
These 5 major banks also captured 56.53% of the total net activity revenues, amounting to EGP 75.857 bn in March 2023 out of a total net activity revenue of EGP 134.194 bn in the banking sector.
Furthermore, the top 5 banks accounted for about 63.70% of the total expenses, totaling EGP 50.270 bn in the first quarter of the current year out of a total sector expense of EGP 78.915 bn.
