Five Egyptian lenders facing possible downgrade
Complex Made Simple

Five Egyptian lenders facing possible downgrade

Five Egyptian lenders facing possible downgrade

Five Egyptian banks have been placed by Moody's Investors Service on review for a possible downgrade, after taking a similar action on Egypt's sovereign-debt ratings last week, Zawya Dow Jones has reported. The ratings agency said it is reviewing its ratings on National Bank of Egypt, Banque Misr, Banque du Caire, Commercial International Bank (Egypt) and Bank of Alexandria. The review will focus on risks posed by these banks' very high and increasing exposure to government securities, as well as the risk of further deterioration in the operating environment and its impact on banks' asset quality and capitalisation.

    Author
    AMEinfo Staff

    AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.

    © 2021, ADigitalcom. All rights reserved