Banks in Egypt issue two million credit cards during Ist half of 2017
02-10-2017 11:29:52 | by: Andrea Ayemoba | hits: 2770 | Tags:

The number of credit cards of banks operating in the Egyptian market increased to about 5.858 million cards by the end of June 2017 compared to 3.859 million cards in December 2016, an increase of roughly 2 million cards, according to the Central Bank of Egypt (CBE).

According to the CBE’s recent report, the five largest banks operating in the Egyptian market accounted for 41.834% of the total, while the top ten accounted for 4.792% of those.

Furthermore, the number of bank discount cards jumped to 17.562 million in June 2017, compared to 12.562 million in December 2016, an increase of 5 million cards.

The top five banks accounted for 47.065% of the total, while the top ten accounted for 66.729%.

In the same context, the CBE revealed that the number of prepaid cards issued by banks operating in the local market increased to 10.052 million cards by the end of June 2017, compared with 8.648 million cards by the end of December 2016, an increase of 1.404 million cards.

The five largest banks account for 86.112% of the total cards, with the top ten accounting for 88.385%.

The CBE added in its report that the number of bank ATMs reached 10,701 in June 2017, compared to 9,832 in December 2016, an increase of 869.

The top five banks account for 66.881% of the total, while the top ten account for 78.076%.

The report pointed out that the number of Point of Sale (POS) systems in increased to about 68,630 in June 2017, compared to 62,764 in December 2016, an increase of 5,866.

According to the CBE, the top 10 banks account for 66.348% of the total.

The number of employees in the banking sector reached 111,561 at the end of June 2017, compared with 111,407 in December 2016, an increase of 154 employees only, the bank said in its report.

About 46,435 employees work in the largest five banks in Egypt, which is about 41.622% of the total number of employees in the sector. In the top 10 banks, about 59,542 people are employed, which makes 53.371% of the number of those working in the sector.

www.dailynewsegypt.com