Saturday, 21 September 2019 04:37 GMT

Egypt's banking sector keeps optimistic view: Moody's

(MENAFN) Egypt is witnessing an improved economy as Moody's Investors Service preserved an optimistic view on the banking sector in the country.

Moody's forecast banks in Egypt to keep enjoying stability along with recording great numbers of liquid assets, mostly in the national currency.

According to Moody's senior vice president Constantinos Kypreos, "accelerating growth in Egypt reflects increased public and private-sector investment, higher exports and a recovery in tourism."

Kypreos added that "we expect balance sheet growth of around 15 per cent in 2019 and for banks to maintain ample local currency funding, high liquidity, and strong and stable profitability."


Egypt's banking sector keeps optimistic view: Moody's

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