The Central Bank of Egypt (CBE) has revealed that the percentage of non-performing loans (NPLs) at banks working in the Egyptian market recorded 3.4% in September 2020.
The latest result, reported in the CBE’s quarterly report on the financial health indicators of banks, compared to the 3.9% recorded in June 2020.
The report outlined the most important indicators for the financial safety of banks operating in the Egyptian market, the quality of credit, the strength of their financial positions, and the profits achieved in September 2020.
The CBE said that the non-performing loan ratio reached 2.5% of the total loans at the 10 largest banks operating in the Egyptian market, whilst reaching 2% at the top five banks.
It also indicated that banks made allocations covering 96.4% of their total non-performing loans in September 2020. At the same time, these provisions covered 100% of NPLs within the top 10 banks and the five largest banks in the Egyptian market.
