Banks operating within the Egyptian market achieved net profits of EGP534.8 billion ($10.6 billion) in 2024, as reported by the Central Bank of Egypt (CBE). This figure represents a remarkable increase compared to EGP283.4 billion recorded at the close of 2023.
The CBE’s report further disclosed that the overall financial position of banks in Egypt reached EGP20.799 trillion by the end of December 2024.
Net return and operating revenues
According to the report, the net return for banks was EGP915 billion by the conclusion of 2024, marking an increase from EGP582.5 billion at the end of 2023. Additionally, net operating revenues rose to EGP1.116 trillion, compared to EGP686.2 billion in the previous year.
However, the expenses incurred by banks also saw a rise, amounting to EGP581.6 billion by the end of 2024, compared to EGP402.8 billion at the end of 2023.
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Assets of banks in the local market
The CBE provided further insights into the assets of banks operating in the local market, excluding the central bank itself. Cash balances totaled EGP182.1 billion, while interbank balances reached EGP3.757 trillion. Balances held with foreign banks amounted to EGP992.7 billion.
Lending and investments in treasury bills
Lending and discount balances for clients recorded EGP8.375 trillion, and the portfolio of securities and bank investments in treasury bills reached EGP6.659 trillion. Other unspecified assets amounted to EGP832.8 billion.
Liabilities and obligations of banks
On the liabilities side, the CBE indicated that the capital of banks totaled EGP575.2 billion, while reserves recorded EGP803.2 billion. Provisions amounted to EGP558.6 billion.
Banks’ obligations to one another domestically totalled EGP1.718 trillion, while their obligations to foreign banks reached EGP643.6 billion. Total deposits stood at EGP13.481 trillion, and long-term bonds and loans totaled EGP970.8 billion. Other unspecified liabilities amounted to EGP2.047 trillion.
