Egyptian banks seen resilient to Iran conflict shocks, Fitch says

RIYADH: Egypt’s banking sector is positioned to absorb the potential economic spillovers from the ongoing Iran conflict, supported by strong capital buffers, liquidity, and profitability, according to a report by Fitch Ratings.  The agency’s base-case scenario assumes the conflict will remain short-lived and indirect in its impact on Egypt’s economy, limiting pressure on the country’s sovereign credit profile and, by extension, its banking system.