Al Markazi: The top 5 banks acquire 69% of the banking sector’s assets


The top 5 banks acquired 4,858 trillion pounds of total banking sector assets, at the end of 2020, 69% of the banks ’financial position, according to the Central Bank of Egypt data.

The five major banks invested 1.954 trillion pounds in securities and treasury bills by the end of last December, while 621 billion pounds were deposited with banks in Egypt and 232.6 billion with banks abroad.

The loan portfolio of those banks exceeded 1.673 trillion pounds, representing 67% of the total banking sector loans.

In terms of liabilities, the reserves of the five major banks reached 205.8 billion pounds, allocations amounted to 89.07 billion pounds, and bonds and loans due on them amounted to 173 billion pounds, representing 83.8% of the debts owed by the banking sector amounting to 206.8 billion pounds.

Capital of major banks recorded 98.4 billion pounds, out of a total of 174 billion pounds, as bank capital in the banking sector.

The deposits portfolio of those banks reached 3.59 trillion pounds by the end of last year, representing 69% of the sector’s deposits. The loan-to-deposit operating rates increased during the past year, with the five major banks, to record 47.5% in December 2020, compared to 43.6% at the end of December 2019.

The operating rate of loans to deposits in local currency increased to 41.9% in 2020, compared to 35.8% in 2019. While the rate of operating loans to deposits in foreign currencies decreased to 86.6% last year, compared to 88.7% in 2019.

The article “Al Markazi”: The top 5 banks account for 69% of the banking sector’s assets, was written in the Al-Borsa newspaper.