Strong Lending Growth In Egypt Masks Underlying Weaknesses
Banking & Financial Services / Egypt / Thu 17 Aug, 2023
Key View
- We anticipate that the Egyptian banking sector’s large net foreign asset liabilities will likely start improving by the end of 2023 or in Q124 if the authorities address the imbalances in the currency market as we expect.
- While we forecast credit growth of 19.6% y-o-y in 2023, this strong growth masks significant weakness in private