Egyptian banking sector achieves EGP 45.549bn net profits in September

The Central Bank of Egypt (CBE) said that the net profits of banks operating in the Egyptian banking sector recorded about EGP 45.549bn at the end of September 2020.

The CBE stated, in a report on Sunday, that the net return in the banking sector amounted to EGP 110.670bn, while the net income from operating activities amounted to about EGP 132.208bn, while total expenditures recorded about EGP 86.659bn in the third quarter of this year.

The CBE added that the net profits of the top 10 banks in the Egyptian banking sector amounted to about EGP 29.852bn, accounting for 65.5% of the total profits in the banking sector as a whole, while the net return of the top 10 banks amounted to about EGP 73.975bn, and the net income from operating activities reached about EGP 87.521bn, while the total expenses were about EGP 57.669bn.

Read More: https://dailynewsegypt.com/2020/12/20/egyptian-banking-sector-achieves-egp-45-549bn-net-profits-in-september/