قفزة الإيرادات تحقق طفرة بأرباح أبرز 6 بنوك مدرجة بالبورصة المصرية
Transcript
00:00 With more than 33 billion pounds, the profit made was the highest of six banks in the Egyptian stock market in the first half of this year.
00:11 The record for growth levels reached more than 87.16% compared to the same period last year.
00:19 Growth was expected, according to experts, given the continuous increases in profit since March 2022, with a value of 1,100 points,
00:30 in addition to the refunds of the funds that pushed some citizens to save their savings, whether in local or foreign currency,
00:38 through the certificates and deposits of the depository with the high interest rate, which explains the noticeable rise in the profitability of banks.
00:46 We were, last year, at 13.16% interest rate on the depository, and it has now reached 24.5%.
01:01 And in the last order, the banks demanded 29.5% interest on the depository.
01:12 All these factors help in the growth and prosperity of the interest rates and the profits of banks in general.
01:22 With the decision of the Egyptian Central Bank to raise interest rates 100 points at the end of its meeting with the beginning of the next month,
01:29 many experts expect the profitable journey of banks to continue during the second half of the current year,
01:35 especially with the expansion of the inflationary wave, which reached its highest level at 36.5% last July,
01:44 and the increase in financial costs for many companies that may have to borrow to cover different operating expenses.
01:53 There will certainly be continuity for a specific reason, because the increase in interest rates is not the end of the world.
01:59 We expect the Egyptian Central Bank to increase by 1% to 2% in the remaining period of 2023,
02:11 and there may still be a continuation of the increase in interest rates in 2024,
02:17 because the inflation is still a long-term process, and it will continue for several months in the coming period.
02:26 The big boom in the profits of the six banks was accompanied by an increase in interest rates,
02:31 which jumped by 64.8% during the period from January to June last year,
02:37 exceeding 61 billion pounds in return for 37 billion pounds during the same period last year.
02:45 Alaa Sanad, CNBC Al Qahira