Banks in Egypt’s Net Profit Registers Substantial Increase

March 23, 2025

(3 Minutes Read)

The CBE’s data highlighted a notable expansion in the total financial position of banks, which reached EGP 20.799 trillion by the end of December 2024. This marks a significant increase from previous years, reflecting a positive performance across the sector

Banks operating in Egypt achieved substantial growth in 2024, with net profits soaring to EGP 534.8 billion, nearly doubling from EGP 283.4 billion in 2023, according to a report released by the Central Bank of Egypt (CBE) on Wednesday.

The report also revealed that net returns for banks operating in the country totalled EGP 915 billion by the end of 2024, up from EGP 582.5 billion the previous year.

Meanwhile, net operating revenues surged to EGP 1.116 trillion, compared to EGP 686.2 billion in 2023. However, this growth was accompanied by a rise in bank expenses, which reached EGP 581.6 billion by the end of 2024, an increase from EGP 402.8 billion in the previous year.

On the asset side, the CBE detailed a breakdown of the banking sector’s holdings. Cash balances stood at EGP 182.1 billion, while interbank balances within Egypt amounted to EGP 3.757 trillion. Foreign bank holdings were valued at EGP 992.7 billion.

In terms of liabilities, the report indicated that the capital of Egyptian banks reached EGP 575.2 billion, while reserves amounted to EGP 803.2 billion. Provisions stood at EGP 558.6 billion. Banks’ obligations to each other within Egypt were recorded at EGP 1.718 trillion, while liabilities to foreign banks totalled EGP 643.6 billion.

Total deposits in the banking sector reached an impressive EGP 13.481 trillion, with long-term bonds and loans amounting to EGP 970.8 billion. Other unspecified liabilities were reported at EGP 2.047 trillion.