Middle East Economic Survey

VOL. XLVIII

No 26

27-June-2005

Egypt

Egypts Banks Remain Fragile Despite Reforms, Says S&P

Egypts banking system remains weak and its overall risk factors stay high despite the recent pick-up in economic growth and moves toward structural reform, announced Standard & Poors (S&P) in its Bank Industry Risk Analysis: Egypt report published on 17 June. Weak industry fundamentals, combined with constraining business conditions and regional uncertainties will keep...