Banks operating in the Egyptian market achieved net profits of EGP 60.758bn in September 2019, according to the Central Bank of Egypt (CBE).
In a recent report, the CBE said that the largest five banks accounted for about 48.981% of the total profits achieved by banks operating in the local market, as the amount of profits achieved by these banks reached about EGP 29.76bn.
The top 10 banks gained EGP 42.13bn, equivalent to about 69.34% of the banks’ total profits.
The top banks in Egypt include the National Bank of Egypt, Banque Misr, the Commercial International Bank, Banque du Caire, QNB Alahli, Credit Agricole – Egypt, Faisal Islamic Bank of Egypt, and the Housing and Development Bank.
According to the CBE, the net returns achieved by banks operating in Egypt at the end of September 2019 amounted to EGP 105.198bn, and the share of the top 10 banks amounted to EGP 70.722bn, equivalent to about 67.227%. The share of the top five banks reached EGP 50.239bn, equivalent to about 47.756% of net returns.
It added that the net income of all banks amounted to about EGP 128.416bn at the end of September 2019, and the top 10 banks acquired EGP 85.161bn, equivalent to 66.316%, while the largest five banks contributed EGP 60.568bn, equivalent to 47.165%.
According to the CBE, the return on the average assets (ROAA) of banks operating in the Egyptian market recorded 1.3% at the end of September, while the ROAA reached 1.3% at the top 10 banks, and 1.1% at the top five banks.
It added that the return on average equity reached 18.4% for the top 10 banks, while it reached 16.3% for the top five.
The net profit margin was 2.7% across all banks, 2.7% at the top 10 operating banks in Egypt, and 2.3% at the top five banks.
On the other hand, the banks’ expenses amounted to EGP 67.658bn at the end of September, of which about EGP 43.0bn belonged to the top 10 banks, equivalent to 63.6%, and about EGP 30.8bn belonging to the largest five banks, equivalent to about 40.2%.
This jump in bank expenses comes against the background of modernising and supporting technological structure and geographical expansion, whether through small and large branches or through automated teller and POS machines, to serve customers nationwide.