Private banks in Egypt achieve record profits in 2024

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Egypt's private banks celebrate a landmark year, reaching record profits in 2024, signaling strong growth in the nation’s banking sector.

02.03.25 | Source: Daily News Egypt

Private banks operating in the Egyptian market recorded unprecedented profits in 2024, driven by substantial growth in interest income and operating revenues. Commercial International Bank (CIB) led the sector with net profits reaching EGP 55.427bn by December 2024, a significant rise from EGP 28.768bn in 2023—an increase of EGP 26.6bn, reflecting a 92.6% growth. Pre-tax profits surged to EGP 77.4bn, compared to EGP 40.5bn, marking a 91% increase.

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