Moody’s Maintains B2 Rating for Egyptian Banking Sector

Giving More to Your Wealth
06 Feb 2022

The leading credit rating agency Moody’s has kept its rating of B2 unchanged for the Egyptian banking sector, with a stable outlook. Moody’s expected the Egyptian economy to grow at 5.5% during FY21/22 on the back of infrastructure investments, tourism recovery, and strong household consumption spending. The agency said that conditions are supportive of banking activities, with financial inclusion initiatives and increasing adoption presenting a promising opportunity for banks.

(Source: Egypt Today (English), al-Maal, al-Ahram, al-Watan, Akhbar al-Youm, al-Arabiya)

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