There are different types of banks in the African continent. In this country, there are more than fifteen commercial banks. The top is the Central Bank of Egypt (CBE), which was founded in 1961 as the nation’s central monetary authority. Aside from being the regulating body for other financial institutions, its other functions include formulating and implementing local banking, monetary, and credit policy, issuing banknotes, managing the foreign exchange and gold reserves within the territory, and its public and private debts.
If you are interested in working in a bank here or need to know about the top banks in the state, here is a list of some of the banks currently operating.
Eight Top Banks in Egypt
The banking system here is stable since it balances profitability and loan book pressures against sound liquidity and a stable government credit profile.
Credit Agricole
It was founded in 2006 to provide retail, corporate, and investment banking services. It operates through various sections such as investment, retail, and asset and liability management. Located in the capital city, Cairo, and with about 2,500 workers and 83 branches, it is a subsidiary of the Crédit Agricole group.
Net income: EGP 1.37 bn
Total assets: EGP 54.7 bn
HSBC Bank Egypt
It was established in 1982 as a subsidiary of HSBC Holdings Plc in Cairo. The former name Egyptian British Bank was changed to HSBC Bank Egypt S.A.E. It carries out all operations through small, medium, and large enterprises, investments, and individuals, among other sections. It employs roughly 1,600 workers in 60 branches and seven units across the country.
Net income: EGP 5.71 bn
Total assets: EGP 105.4 bn
Bank of Alexandria
Established in 1957, it is a subsidiary of Intesa Sanpaolo S.P.A. With its headquarters in Cairo, it has almost 4,200 employees and 211 branches within the territory.
Net income: EGP 2.49 billion
Total assets: EGP 103.9 billion
Qatar National Bank (QNB)
This bank is a subsidiary of Qatar National Bank (Q.P.S.C.). It was founded in 1978 and operates through four main sections: corporate, investments, individuals, and others. It consists of 231 branches and has over 450 ATMs across the country that employ at least 6,700 staff to serve 970,000 clients.
Net income: EGP 7.49 bn
Total assets: EGP 305.2 bn
Commercial International Bank
Established in 1975, it is one of the private-sector financial institutions in the country. It provides retail, corporate, and investment banking services to customers across the territory. Located in Giza, it carries out all operations through four sections: investment, corporate, and retail banking, amongst others. The bank has over seven thousand workers in 182 branches located within the territory. Formerly known as Chase National Bank of Egypt, the financial services company changed its name to Commercial International Bank (Egypt) S.A.E. in 1987.
Net income: EGP 10.2 billion
Total assets: EGP 447.7 billion
National Bank of Egypt
Incorporated in 1898, this is one of the oldest banks here. The institution provides corporate, retail, loan, and investment banking services. With its headquarters in Cairo, the capital city, it employs about 16,200 workers and has 413 branches and 3,823 ATMs within the territory. With an impressive international presence, it has branches in New York and Shanghai, including representative offices in Johannesburg, Dubai, and Addis Ababa. In 2016, the bank posted total assets of US$63.20 billion and a net profit of US$595 million.
Net income: EGP 20.21 billion
Total assets: EGP 1.6 trillion
Arab Banking Corporation
This financial institution was formerly known as Egypt Arab African Bank (S.A.E). Established in 1982, it handles the issuing and managing of savings certificates for the federal government. Operating 28 branches and 94 ATMs in the country, it is in Cairo and has over 570 staff.
Net income: EGP 218.3 million
Total assets: EGP 14.42 billion
Banque du Caire
Banque de Caire acts as a subsidiary of Banque Misr in Cairo. It provides retail and commercial banking services to Egyptian customers and residents in the country. Incorporated in 1952, the bank controls 150 branches.
Net income: EGP 2.21 billion
Total assets: EGP 131.3 billion
