CPI Financial

Moody’s views the outlook for the direction of credit conditions in the Egyptian banking system as stable, albeit with risks on the downside. This view is primarily underpinned by the considerable progress achieved on the banking sector reform programme being implemented by the Central Bank of Egypt (CBE) – including sector consolidation, upgrading the CBE’s supervisory and monitoring capabilities, the financial and managerial restructuring of the state-owned banks, and addressing the problem of their high non-performing loans (NPLs).