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Egyptian Banks Face Further Pressure from Coronavirus Fallout
Fitch Ratings-London/Dubai-07 April 2021: Egyptian banks face asset-quality deterioration and continued pressure on profitability through 2021 amid the economic fallout of the pandemic, Fitch Ratings says in a new report. Capitalisation remains a credit weakness and foreign-currency liquidity is still vulnerable to external shocks. However, the sector could benefit from growth and revenue opportunities, with Egypt’s lockdowns less stringent than those in many jurisdictions, and consumer consumption and public investment more resilient. The sector average…
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