The Central Bank: Continuing to exempt banks from applying concentration ratios in the credit portfolios of the 50 largest clients and the parties associated with it.
The Central Bank of Egypt has decided to extend the exemption for banks operating in the local market from applying the clause on the limits of credit bank portfolio concentration with the largest 50 clients and related parties until the end of December 2022.
The Central Bank emphasized that this came to support banks in playing their role in supporting the various economic sectors, particularly given the ongoing impact of the Corona virus’s ramifications.
There is no doubt that this will have a beneficial affect on the banks’ economy and assist them in making a strong comeback following the setback caused by the Corona virus.