Egypt reports high banking profits and targets 5.4% economic growth

Banks operating in Egypt recorded net profits of EGP 373.133 billion during the first half of 2026, according to a report from the Central Bank of Egypt (CBE). The sector generated net interest income of EGP 567.872 billion and net operating income of approximately EGP 795.005 billion. The ten largest banks were major contributors, accounting for 81.453% of total sector profits with approximately EGP 303.930 billion.

Separately, Planning and Economic Development Minister Ahmed Rostom announced that Egypt is targeting economic growth of 5.2% to 5.4% for the upcoming fiscal year. This follows a 5.1% growth rate in the 2025/26 fiscal year, which was driven by recoveries in manufacturing and information technology. Rostom noted that the economy is transitioning from a phase of stabilization toward sustainable growth.

During a meeting with representatives from Standard & Poor’s for a routine credit rating review, Rostom highlighted that inflation fell to 12.7% in August 2026 and unemployment declined to 5.8% in the second quarter. The government aims to achieve its growth targets by empowering the private sector and improving the investment climate.