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FinancialNews


  • 02-10-18

    Egypt sees 1.2 percent boost in banking sector assets

    (MENAFN) The Egyptian banking sector was unveiled by the central bank to have recorded a 1.2 percent increase in its assets value in July, standing at USD286.36 billion.

    Within Arab countries, the Egyptian banking sector has snatched the fourth spot considering asset sized, and first among banks within non-oil Arab countries.

    The General Secretariat of the Union of Arab Banks (UAB) issued a report, showing that Egypt's banking sector amounts for 8 percent of the assets of Arab banks and accounts for 9 percent of its deposits.

    McKinsey & Co also found in a study it conducted the country to have been ranked among the leading five banking markets within Africa, considering growth and profitability.

    MENAFN0210201800450000ID1097516394

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