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EGP 12.246bn increase in banks’ deposits, EGP 16.8bn in loans last April: CBE - Daily News Egypt

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EGP 12.246bn increase in banks’ deposits, EGP 16.8bn in loans last April: CBE

The CBE added that the household sector acquired EGP 75.9bn out of the total deposits of banks’ customers in April, where its deposits registered EGP 1076.371bn during that month compared to EGP 1062.607bn during March.


Central Bank of Egypt
CBE clarified in its monthly report on Egyptian banking sector’s performance that total deposits at banks increased during April to EGP 1676.043bn compared to EGP 1663.797bn in March
(DNE Photo)

By Hossam Mounier

The deposit by banks working in Egypt increased by EGP 12.246bn during last April, while their loans portfolio increased by approximately EGP 16.18bn in the same period, according to the Central Bank of Egypt (CBE).

The CBE clarified in its monthly report on the Egyptian banking sector’s performance that the total deposits at banks increased during April to EGP 1676.043bn compared to EGP 1663.797bn in March, an increase of EGP 12.246bn.

The report added that nongovernmental loans in banks working in the Egyptian market increased by EGP 13.455bn, amounting to EGP1433.324bn in April compared to EGP 1419.869bn in March. The report also said that government deposits retreated by EGP 1.209bn in April, registering EGP 242.719bn compared to EGP 243.928bn in March.

According to the CBE, the growth rate of total deposits in banks amounted during April to 18.11%, compared to 18.71% during March. The growth rate of the deposits in Egyptian pounds recorded 19.2%, while it recorded 13.3% for the deposits in foreign currencies.

The CBE added that the household sector acquired EGP 75.9bn out of the total deposits of banks’ customers in April, where its deposits registered EGP 1076.371bn during that month compared to EGP 1062.607bn during March.

The report also showed that the private sector acquired 80.6% out of the total loans that banks in the country granted to their customers during April, decreasing the 80.8 percentage it obtained in March.

The CBE explained that the total loans in the banks increased during last April to register EGP 691.513bn compared to EGP 675.334bn during March, recording an increase of EGP 16.179bn.

The loans directed to the government during April increased by EGP 4.738bn, where they amounted to EGP 60.864bn in comparison to EGP 56.126bn in March. On the other hand, the loans directed to the other economic sectors increased by EGP 11.441bn, to reach EGP 630.649 in April, compared to EGP 619.208bn in March.

The CBE added that the total loans granted by the banks to their customers in Egyptian pound increased in April by EGP 12.286bn to reach EGP 446.953bn compared to EGP 434.667bn in March. As for the loans in foreign currencies, they retreated during April by EGP 845m, to register EGP 183.696bn, compared to EGP 184.541bn during March.

The CBE report also showed that Egypt’s total domestic debt amounted to around EGP 2.016tn by the end of last March, compared to EGP 1.924tn by the end of December 2014, with an increase of EGP 91.7bn.

The external debt amounted to approximately $39.853bn by the end of March, compared to $41.324bn by the end of December, retreating by $1.471bn.

The total domestic public debt/GDP registered around 83.9% by the end of March, compared to 80.1% in December.

The external debt/GDP amounted to 12.5% by the end of March 2015, compared to 12.3% during December.

 

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