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Continued foreign assets drop could pressure Egyptian bank VRs
Fitch Ratings-London: Egyptian banks’ Viability Ratings (VRs) could come under pressure if the banks’ foreign assets continue to drop, Fitch Ratings says. The sector had a net foreign liabilities (NFL) position of EGP112 billion (USD7 billion) at end-November 2021, according to Central Bank of Egypt (CBE) data, compared with a…
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Source: Egyptian banks’ Viability Ratings