Pre-Trading Thoughts

Egyptian Banks Report Extraordinary 1Q24 Results Amid Surging Interest Rates; Upside Potential Is Hard to Ignore As highlighted before, post the recent 600 bps increase in policy rates and the EGP devaluation, we expect another year of exceptional profits with impact starting to appear in 1Q24, spearheaded by COMI and ADIB, supported by: 1)Strong Interest income, driven by: •Stronger NIMs. •Balance sheet expansion with the weakness in local currency, high inflation, and FC availability ...