Brighter Prospects For Egypt's Banking Sector After Recent Measures
Banking & Financial Services / Egypt / Wed 29 May, 2024
Key View
- The Egyptian authorities’ decision to unify the exchange rates and substantial FX inflows are positive for the banking sector, allowing them to shift to net foreign asset position.
- Banks will be able to weather the impact of the currency sell-off on their balance sheet and capital position.
- Lending activity will remain structurally weak due