Banking

Egypt 2020 - Banking

The largest of its kind in North Africa, Egypt’s banking sector has also long been seen as one of the most stable in the region. Since 2010 the industry has overcome the challenges of political revolution, currency crises and an interest rate environment that has acted as a barrier to credit extension. In early 2020 the outlook for the sector was broadly positive, but by the close of the first quarter it became apparent that Covid-19 would have a deleterious effect on the domestic economy. As a result, Egypt’s financial institutions are likely to focus on maintaining their asset quality rather than boosting their lending portfolios. Social distancing, meanwhile, is set to add momentum to the more widespread adoption of online banking and digital payments, which should help to boost financial inclusion. This chapter contains an interview with Hisham Ezz Al Arab, Chairman and Managing Director, Commercial International Bank.

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Economy, from The Report: Egypt 2020
First article from this chapter and report:
How banking reform is boosting business lending in Egypt
Cover of The Report: Egypt 2020

The Report

This chapter is from the Egypt 2020 report. Explore other chapters from this report.

Interviews & Viewpoints

Sketch of Hisham Ezz Al Arab, Chairman and Managing Director, Commercial International Bank
Hisham Ezz Al Arab, Chairman and Managing Director, Commercial International Bank: Interview

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