Egypt Banking & Financial Services Q4 2019
A large population and improving macroeconomic conditions create a positive background for Egypt's fast growingbanking and financial services sector. Consolidation and improved regulatory oversight in the banking sector have led to strongerasset bases and declining levels of non-performing loans, while start-ups in the fintech sector are helping to broaden the reach offormal banking services in what is still a largely cash-driven society. Credit growth has been revised downwards due to weakerdemand from the larger segments but this is will be overturned by lower interest rates in 2020. Demand for investment productsand insurance remains relatively low however an emerging middle class and the involvement of a greater number of overseasproviders, those willing to navigate a somewhat risky business environment, will help to drive uptake.
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