2023-10-26

A circular dated October 26, 2023 regarding the inclusion of net interim profits from the continuing basic capital in the first tranche within the capital base according to the capital adequacy standard.

Dear Sir/ Chairman of the Bank Board, Greetings, By referring to the guidelines issued under Basel III, which amend existing rules for calculating the Core Tier 1 Capital ratio, it was decided at a meeting of the Bank's board on October 24th, 2023: "In line with Basel III, under the CET1 capital ratio, banks can include net income statements as part of their ongoing core capital. This is a first for this type of balance sheet account tracking, with a cap on the amount of regulatory accounts for financial institutions." Respectfully,

Egypt

Central Bank of Egypt

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