Market Report, "Egypt Commercial Banking Report Q3 2012", Published
BMI View: The outlook on the Egyptian banking sector in 2012 remains subdued in light of a weak macroeconomic backdrop, risks of a currency devaluation, and elevated provisioning for loan losses. Net interest income should help support underlying profitability in the near term, particularly with yields on treasury bills likely to remain elevated. In light of a weak macroeconomic backdrop, risks of a currency devaluation and ongoing political uncertainty, our outlook on the Egyptian banking sector in 2012 remains cautious....
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