The Central Bank of Egypt announced an improvement in the capital adequacy ratio, reaching 19.1% at the end of Q3 2024, up by 0.5% from previous figures. This exceeds the regulatory minimum of 12.5%.
The bank's financial stability indicators reflect the resilience of the Egyptian banking sector, which plays a crucial role in supporting economic stability by providing financing across various sectors. This is expected to contribute to national output growth and job creation.
Additionally, the ratio of non-performing loans decreased to 2.4% of total loans, with a coverage ratio of 87.4%. The liquidity ratios remained robust, with local currency liquidity at 32.1% and foreign currency liquidity at 77.7%, surpassing the regulatory requirements of 20% and 25%, respectively.
The loans-to-deposits ratio stood at 61.3% at the end of Q3 2024. The bank also reported a high return on equity of 32.2% for the fiscal year ending in 2023, underscoring the banking sector's profitability.
The Central Bank emphasized that the financial solidity of the banking sector enhances its capacity to support the national economy, backed by ongoing regulatory oversight to ensure adherence to global financial safety standards.