Top 10 Egyptian market banks report EGP 14.661bn in net profits in September
The top 10 banks operating in the Egyptian market achieved net profits of about EGP 14.661bn by the end of September 2020.
A survey conducted by Daily News Egypt on the financial statements of these banks, which announced their budgets for the third quarter (Q3) of this year, revealed that QNB Alahli has accounted for about 38% of total net profits collected by the top 10 banks, recording EGP 5.572bn.
AlexBank came in second place with a value of EGP 2.015bn, while the Housing and Development Bank (HDB) came third with a net profit of EGP 1.425bn.
The financial statements revealed that, until the end of Q3 of 2020, the novel coronavirus (COVID-19) pandemic continues to cast a shadow over the performance of banks operating in the local market.