The five largest banks in Egypt acquired 71.47% of the total profits made by banks operating in the Egyptian market as of the end of June, according to the Central Bank of Egypt (CBE).
In a recent report, the CBE noted that banks made a net profit of EGP 33.106bn between January 2016 and the end of June 2016 for private banks, and from the start of July 2015 until the end of June 2016 for public banks.
The net profit of the biggest five banks in the market registered EGP 23.66bn, equivalent to 71.47% of the total profit of all banks operating in Egypt. The top 10 banks realised a net profit of EGP 27.512bn, equivalent to about 83.10% of the total profits made by banks.
The CBE did not disclose the names of those five or ten banks; however, the market has named the National Bank of Egypt, Banque Misr, Commercial International Bank, Banque du Caire, and QNB ALAHLI as the top five banks.
According to the CBE, net interest achieved by banks operating in Egypt amounted to about EGP 63.74bn, of which 10 banks accounted for EGP 50.96bn, equivalent to 79.95% of the figure. The share of the largest five banks reached EGP 43.62bn, equivalent to about 68.42% of the total interest made by the banks combined.
The report noted that net operating income at banks registered EGP 84.56bn, with the top 10 banks acquiring EGP 65.15bn, which is equivalent to 77.05%. The largest five banks alone recorded a net operating income of EGP 55.86bn, 66.05% of the total net operating income of the banking sector.
The total capital of banks operating in the Egyptian market amounted to EGP 100.72bn, of which about EGP 56.36bn is from the largest five banks, including EGP 48.86bn acquired by five banks.