EGYPTBanks
Egypt / Banks / Thematic Note
When we consider the performance of the Egyptian banking sector so far in 2022, we can directly see the chain of cause and effect with recent developments in the monetary environment affecting banks’ allocation, profitability, and ALM strategies. The drastic competition coming from state-owned banks with high-yield CDs, and consequently the shift of liquidity, has highlighted how value in banks—at times of rising yields—mainly comes from the liability side rather than the asset portfolio.
In this note, we analyze EGX-listed banks’ H1 2022 results with emphasis on Q2, putting the spotlight on top performers.
Amany Shaaban
Equity Analyst
T +202 3300 5720
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