CBE: Egyptian banking’ net profit records EGP 283.4b in ’23

By Yomna Yasser On Mar 18, 2024

Egypt's central bank's new headquarters in the New Administrative Capital

The Egyptian banking sector saw its net profit grew by more than half throughout 2023, the central bank said in its latest report on Monday.

Egyptian banks’ net profit rose to 283.388 billion Egyptian pounds ($6 billion) at the end of 2023, compared with 130.844 billion pounds at the end of 2022.

Net interest also rose to 582.497 billion pounds in 2023 from 331.202 billion pounds in 2022.

Net operating income recorded 686.161 billion pounds from 407.592 billion pounds. Total expenses have totalled 402.773 billion pounds, up from 276.748 billion pounds.

CBE Central Bank of Egypt (CBE)Egypt's central bank egyptian banks