During H1 2023, banks recorded reserves worth EGP 492.386 billion, of which EGP 377.942 billion were held by the 10 largest banks and EGP 326.422 billion by the 5 largest banks
Total non-governmental deposits in local currency within banks increased to EGP 5.791 trillion in July 2023, compared to approximately EGP 5.411 trillion in December 2022
The new licensing regulations stipulate that digital banks must maintain a minimum issued and paid-up capital of EGP 2 billion ($65 million), the CBE explained
According to the EIFA’s latest data, Islamic banking accounts for approximately 5% of the overall Egyptian banking sector
Egypt's banking sector is on a path of growth and stability as domestic liquidity reaches EGP 8.06 trillion, marking a significant increase.
