Q: How has the Egyptian banking sector performed in recent years?
A: It has shown noticeable resilience in a tough operating environment. Measured by total assets (other than the Central Bank of Egypt [CBE]), banking activity grew by 24% at end-June 2021, compared to a growth rate of 16.2% and 8.6% at the ends of June 2020 and 2019, respectively. Total bank deposits increased by E£1.05tn ($66.81bn) to reach E£5.75tn in June 2021, growing by 22.3% compared to a growth rate of 17.2% and 12.3% in June 2020 and 2019, respectively.
