Net activity revenues reached around EGP 407.592 billion, compared to EGP 272.230 billion, with total expenses recording around EGP 276.758 billion compared to EGP 178.8 billion
Banks operating in the Egyptian market saw net profits climb to around EGP 130.84 billion in December 2022, a 40% jump from September 2022’s recorded 93.396 billion.
According to the Central Bank of Egypt (CBE), the banks’ revenues hit EGP 331.202 billion in the final month of 2022, compared to EGP 225.807 billion in September.
Net activity revenues reached around EGP 407.592 billion, compared to EGP 272.230 billion, with total expenses recording around EGP 276.758 billion compared to EGP 178.8 billion.
The market’s top ten banks had 77.59% of total bank profits, collectively acquiring around EGP 101.525 billion in December 2022, compared to about EGP 73.125 billion in September.
The CBE added that the net return of the top 10 banks reached EGP 247.968 billion in December 2022, net activity revenues of EGP 303.540 billion, and their total expenses amounted to EGP 202.015 billion.
The top five banks acquired around 64.32% of the sector’s profits to hit EGP 84.162 billion, with net returns of around EGP 216.375 billion, net activity revenues at around EGP 265.630 billion, and total expenses hitting about EGP 171.468 billion in September.
The average return on assets in banks was 1.2% in December, with the return on average equity recorded at 16.1%, while the net margin of return reached 4.2%.