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CBE: Banking Sector Capital Exceeds EGP 202 Billion

Taarek Refaat by Taarek Refaat
11:51 PM January 18, 2022
The domestic liquidity in the banking sector rose to EGP 6.280 trillion in the first quarter of 2022, compared to EGP 5.822 trillion in Q4 of 2021, an increase of EGP 457.5 billion, and a growth of 7.8%, according to the Central Bank of Egypt (CBE). Central Bank data revealed that the money supply recorded EGP 1.469 billion at the end of March, compared to EGP 1.382 trillion at the end of December 2021. Cash in circulation outside the banking system amounted to EGP 717.2 billion at the end of March 2022, compared to EGP 701.8 billion at the end of December 2021, according to the central bank. As for deposits in local currency, total deposits in banks - other than the government - rose to EGP 4.754 trillion in Q1 of 2022, compared to EGP 4.469 trillion at the end of December 2021, with a growth of 6.3% within 3 months. Central Bank data showed that deposits in local currency were divided into demand deposits, time deposits and savings certificates. Demand deposits recorded EGP 752.254 billion at the end of March 2022, compared to EGP 680.464 billion at the end of last year, while time deposits and savings certificates scored EGP 4.002 trillion in Q1 of 2022, compared to EGP 3.789 trillion at the end of December. Foreign currency deposits With regard to deposits in foreign currency, the total deposits of banks in foreign currency - other than the government - increased to reach EGP 808.372 billion Q1 of 2022, compared to EGP 650.825 billion at the end of last year, a growth of 24.2%, within 3 months. Deposits in foreign currency were divided into demand deposits in dollars, which amounted to EGP 223.049 billion, time deposits and savings certificates worth EGP 585.323 billion by the end of March 2022.

The Central Bank of Egypt (CBE) headquarters, Cairo, Egypt. File Photo

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The capital of banks operating in the Egyptian market increased by EGP 3.18 billion to reach EGP 201.7 billion by the end of October 2021, compared to EGP 198.5 billion at the end of September.

The monthly statistical bulletin issued by the Central Bank of Egypt  (CBE) recently revealed that banks’ allocations rose to EGP 183.9 billion at the end of October, compared to EGP 178 billion, month-on-month.

Balances of credit facilities in banks increased by EGP 47.37 billion to reach EGP 2.996 trillion at the end of October, compared to EGP 2.948 trillion (MoM).

The government acquired EGP 1.12 trillion of total credit balances granted by banks at the end of October, including EGP 802.9 billion in local currency and EGP 317.6 billion in foreign currency.

While the facilities granted to non-government accounted for EGP 1.875 trillion, of which EGP 1.629 trillion in local currency, and EGP 246.38 billion in foreign currency.

Total bank deposits, other than the central bank, rose to record EGP 6.191 trillion at the end of October, compared to EGP 6.077 trillion at the end of September 2021, an increase of EGP 114.1 billion.

Deposits were divided into government currency deposits, which amounted to EGP 1.2 trillion, and non-governmental deposits at EGP 4.990 trillion. Government deposits were also recorded EGP 1.2 trillion by the end of October 2021; compared to EGP 1.166 trillion by the end of September.

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In addition, Government deposits were divided into local currency deposits of EGP 1.059 trillion, and EGP 141.182 billion in foreign currencies.

Moreover, Non-governmental deposits recorded EGP 4.990 trillion at the end of October 2021, compared to EGP 4.910 trillion at the end of September 2021; with non-governmental deposits recording EGP 4.324 trillion in local currency at the end of October and EGP 4.253 trillion in the earlier month.

Deposits of the public business sector amounted to EGP 84.8 billion, the private business sector EGP 453.787 billion, and the households EGP 3.660 trillion, while non-governmental deposits in foreign currencies recorded EGP 665,370 billion at the end of October 2021, compared to EGP 657.6 billion (MoM).

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