Pre-Trading Thoughts

-Egyptian Banks: Love at the time of macro challenges. Egyptian banks are delivering ROEs north of 20%, and most of them are trading below book values. Most banks that got acquired in Egypt recently witnessed transaction multiples that are double those seen amongst listed banks. Treasury investments will present a good opportunity to park excess liquidity, and the high-interest rate environment will serve NIMs and push them higher. ADIB, CIEB, CANA, SAUD, HDBK, along with COMI of course that ...