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Banks’ credit facilities see EGP 242.6bn rise in 10 months: CBE - Daily News Egypt

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Banks’ credit facilities see EGP 242.6bn rise in 10 months: CBE

Deposits up by EGP 1bn only as non-governmental deposits drop


The total credit facilities granted by banks to their customers increased by EGP 2424.6bn to reach EGP 1.8723tn during the period from July 2018 to April 2019, according to the Central Bank of Egypt (CBE).

Credit facilities are loans provided by banks to their clients alongside documentary credits and letter of guarantees that were opened to cover import operations.

In its monthly report on the performance of banks and the economy, the CBE explained that the private enterprise sector has obtained about 60.6% of the total facilities granted by banks to all bodies excluding the government until April 2019.

It added that the industry sector has denominated 33.6% of these facilities, followed by the services sector by 27.3%, the trade sector by 10.6%, the agriculture sector by 1.6%, and miscellaneous sectors–including households–by 26.9%.

In another context, the CBE also noted that customer deposits at banks by the end of April 2019 increased by EGP 1bn to EGP 3.932tn up from EGP 3.931tn at the end of March.

The CBE added that government deposits have declined in value by EGP 18.666bn to EGP 615.425bn against EGP 634.091bn in March.

Non-government deposits in banks recorded a rise in value by EGP 19.654bn at the end of April 2019 to EGP 3.316tn against EGP 3.296tn in March.

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https://eklutdvotyzsri.dailynewssegypt.com/2019/07/17/banks-credit-facilities-see-egp-242-6bn-rise-in-10-months-cbe/
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