Equity Analysis /

Egypt Banking Sector 2022: Supported by macro backdrop

  • Sector outlook, hopes, fears, and picks

  • Interbank comparison

  • Individual banks fundamental review

Al Ahly Pharos Securities Brokerage
5 December 2021

Please find attached our banking sector update for 2022, in which we present:

Sector Outlook, Hopes, Fears, and Picks

  • Sector Outlook, Hopes, Fears, and Picks

  • Valuation and Multiples

Interbank Comparison

  • Market Share and Utilization

  • Balance Sheet

  • Income Statement

  • Capital Adequacy

  • Tax Issue

Individual Banks Fundamental Review

  • Commercial International Bank (COMI)

  • Qatar National Bank (QNBA)

  • Credit Agricole Egypt (CIEB)

  • Housing and Development Bank (HDBK)

  • Export Development Bank (EXPA)

  • Abu Dhabi Islamic Bank (ADIB)

  • Faisal Islamic Bank (FAIT)

  • Egyptian Gulf Bank (EGBE)

  • Al Baraka Bank Egypt (SAUD)

  • Suez Canal Bank (CANA)