CBE: Top 10 Banks Capture 66.52% of the Banking Sector's Net Profits, Recording EGP 36.769 Bn

The Central Bank of Egypt has revealed a rise in the net profits of top 10 banks operating in the Egyptian banking market by 20.64%, reaching EGP 36.769 bn during the first quarter of 2023, compared to EGP 30.479 bn during the same period in 2022, with an increase of EGP 6.290 bn.

The top 10 banks have acquired around 66.52% of the banking sector's net profits during the first quarter of 2023.

The top 10 banks showed an increase in their asset portfolio by 15.06%, reaching EGP 10.306 tn by the end of March 2023, compared to EGP 8.957 tn by the end of 2022, with an increase of EGP 1.349 tn.

Deposit portfolio of the top 10 banks also increased from EGP 6.663 tn at the end of 2022 to EGP 7.186 tn by the end of the first quarter of 2023.