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Egypt's top 4 banks 2012

In times of economic and political tumult, it is essential to be confident about where to place one’s money and who to trust with one’s finances.
EMEA Finance magazine is the leading magazine on financial issues in Europe, Middle East, and Africa and a publication of Exporta Publishing & Events Ltd. Every year, the magazine rates and evaluates the region’s best banks at its African Banking Awards, according to their strengths in general banking, investment banking and / or asset management.

EMEA seems optimistic about Egypt, as it assures that the country’s banks have shown a backbone that puts many firms in less troubled markets to shame.
The winners in Egypt for 2012 are:

1. Best local bank: Commercial International Bank (CIB)
2. Best foreign bank: HSBC Bank Egypt
3. Best local investment bank: EFG-Hermes
4. Best foreign investment bank: HSBC Bank Egypt
5. Best asset manager: CI Asset Management

Yet, when taking a look at the Pan-African winners, it is noticeable that not a single Egyptian bank has made it to the top:

1. Best local investment bank: Standard Bank
2. Best foreign investment bank: Goldman Sachs
3. Best asset manager: Investec Asset Management

EMEA swears on the African economies as it states in its report: “African companies are growing at a paace that hasn’t been witnessed in more developedmarkets for many years. Furthermore, the percentages of the population with access to financial services in many countries remain startlingly low. For banking teams with ambition and capital behind them, the potential is remarkable.”