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2:25 p.m. Saturday, March 30, 2019
Manal wrote:
Mohammed Al-Jarrah Al-Sabah, president of the Union of Arab Banks, said that the Egyptian banking sector ranks fourth among Arab banking sectors in terms of asset size and ranks first among banking sectors of non-oil Arab countries.
He added that the occupation of this arrangement by Egypt comes despite the economic difficulties faced by his country, especially after the liberalization of the exchange rate of the pound sterling.
This happened during the morning speech at the forum of heads of Arab bank risk departments, "the road to Basel 4", which is currently in Alexandria and will continue on Sunday, under the auspices of Tariq Amer, Governor of the Central Bank of Egypt.
Al-Sabah pointed out that the total assets of the Egyptian banking sector amounted to 5.4 trillion pounds by the end of 2018, compared with 4.8 billion pounds at the end of 2017, a growth rate of 13%.
Deposits reached approximately £ 3.8 trillion by the end of 2018, an increase of 15% over the end of 2017. Loans to the public and private sectors amount to around £ 1.8 trillion, recording a growth of 24%. %, according to Sabah.
Al-Sabah said the total equity and reserves of the Egyptian banking sector amounted to about 354 billion pounds by the end of 2018, an increase of 10% by the end of 2017.
Al-Sabah pointed out that the capital adequacy criterion in the Egyptian banking sector rose to 16% by the end of September 2018. The ratio of non-performing loans to total loans has fallen to 4.4% .
According to the latest data from the World Bank, Egypt's tax coverage has gone from 9.7 percent in 2011 to 32.8 percent in 2017, according to Sabah.
This article is: "Official: the largest Egyptian banking sector in non-oil Arab countries" is quoted on the Masrawy website and does not reflect the site's policy or point of view of any form whatsoever.
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