Who Owns Whom

The Banking Industry in Egypt 2021

Stephen Timm | Egypt | 08 December 2021

Full Report

R 9 500.00(ZAR) estimated $ 566.13 (USD)*

Industry Overview

R 6 650.00(ZAR) estimated $ 396.29 (USD)*

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Report Coverage

This report on the Egyptian banking industry covers deposit-taking institutions, as well as central banking. It includes information on the country and legislation and regulations relevant to the banking industry, and details of the major players and their performance and development, financial inclusion, digital banking and fintech, microfinance, Islamic banking and the competitive environment. There are profiles of 16 companies including state-owned banks such as the National Bank of Egypt, Banque Misr and Banque du Caire, major private banks including Commercial International Bank and QNB Alahli and international banks in Egypt such as HSBC and Credit Agricole Egypt.

The Banking Industry in Egypt

Egypt’s banks were able to weather the pandemic as they entered the crisis relatively well-capitalised, and the number of non-performing loans remains low. The pandemic also helped fuel significant growth in digital banking in a country where only about a third of the population is banked. Experts say a new banking act, which was passed in 2020 and which increased capital requirements, could promote mergers and acquisitions, while helping to boost financial inclusion. While bank profits have been affected by the slowdown in private lending, experts are hopeful that lending will pick up again, driven by the current record low interest rates.

Challenges

A critical challenge is financial inclusion, as about two thirds of Egyptians are unbanked. Banks are moving quickly to increase digital channels – by rolling out more ATMs and point of sale machines, while partnering with fintech companies to improve mobile wallet and payment options for clients. Another challenge is that the banking sector remains under-leveraged with a low loans-to-deposits ratio.

Growth drivers

Key growth drivers include the development of several mega projects and recent economic reforms, such as the liberalisation of the foreign exchange system, a monetary policy aimed at containing inflation and cutting expenditure through eliminating fuel and energy subsidies. The pandemic fuelled significant growth in digital banking, with the value of electronic transactions growing exponentially.

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Historical Reports

Table of Contents

PAGE
1. INTRODUCTION 1
2. COUNTRY INFORMATION 1
3. DESCRIPTION OF THE INDUSTRY 2
3.1. Industry Value Chain 4
3.2. Geographic Position 5
3.3. Size of the Industry 5
3.4. Key Success Factors and Pain Points 11
4. LOCAL 12
4.1. Key Trends 12
4.2. Notable Players 16
4.3. Corporate Actions 17
4.4. Regulations 18
4.5. Enterprise Development and Social Economic Development 20
5. AFRICA 21
6. INTERNATIONAL 24
7. INFLUENCING FACTORS 26
7.1. COVID -19 26
7.2. Economic Environment 28
7.3. Labour 29
7.4. Environmental Issues 30
7.5. Technology, Research and Development (R&D) and Innovation 31
7.6. Input Costs 33
7.7. Financial Inclusion 33
7.8. Cybercrime and Fraud 34
8. COMPETITIVE ENVIRONMENT 35
8.1. Competition 35
8.2. Ownership Structure of the Industry 36
8.3. Barriers to Entry 37
9. SWOT ANALYSIS 37
10. OUTLOOK 38
11. INDUSTRY ASSOCIATIONS 39
12. REFERENCES 39
12.1. Publications 39
12.2. Websites 41
APPENDICES 42
Appendix 1 42
Summary of Notable Players 42
COMPANY PROFILES 44
Abu Dhabi Islamic Bank - Egypt SAE 44
Al Baraka Bank Egypt S.A.E. 48
Arab African International Bank 53
Arab Banking Corporation - Egypt (S.A.E) 56
Bank of Alexandria S.A.E. 59
Banque Du Caire S.A.E. 61
Banque Misr (S.A.E.) 63
Commercial International Bank (Egypt) SAE 66
Credit Agricole Egypt S.A.E. 71
Egyptian Gulf Bank S.A.E 77
Export Development Bank of Egypt S.A.E 82
Faisal Islamic Bank of Egypt S.A.E. 86
HSBC Bank Egypt S.A.E 90
National Bank of Egypt S.A.E. 94
QNB Alahli SAE 97
Suez Canal Bank S.A.E 100