Fitch Ratings lauded the agreement between the Egyptian government and the International Monetary Fund (IMF) in which Egypt secures a $3 billion loan over 46 months.Fitch Ratings added also said that Egyptian banks’ regulatory capital ratios can withstand further Egyptian pound depreciation as they are supported by healthy internal capital generation.“Large private-sector banks are better-placed to withstand currency depreciation than the two largest public-sector banks, National Bank of Egypt (NBE) and Banque Misr (BM), due to their higher regulatory capital buffers,” according to Fit

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