Bank loans to customers increase by EGP 13.2bn in April: CBE

Hossam Mounir
2 Min Read
(AFP photo)

The volume of bank loans provided to customers increased to EGP 860.783bn at the end of April, edging up from EGP 847.574bn in March. This marks an increase of EGP 13.209bn, according to the Central Bank of Egypt (CBE).

In its monthly bulletin on the banking sector performance issued on Thursday, the CBE stated that the total size of government loans amounted to EGP 121.98bn at the end of April, an increase of EGP 681m from March. Meanwhile, non-government loans increased by EGP 12.5bn, reaching a total volume of EGP 738.8bn.

The private sector accounted for 74.8% of the total loans granted by banks in April.

Deposits reached a total of EGP 2.014tn in April, increasing by EGP 7.7bn across all banks, save the CBE. In March, the total size of deposits had registered EGP 2.0063tn.

“The deposit growth rate dropped to 18.83% in April, versus 19.36% in March,” the report read.

Government deposits amounted to EGP 316.216bn in April, compared to EGP 314.69bn in March, with an increase of EGP 1.5bn.

Non-government deposits reached EGP 1.697tn, with an increase of EGP 6.2bn.

The total deposits in local currency recorded EGP 1.376tn, while deposits in foreign currencies reached EGP 321.508bn.

The growth rate of local currency deposits hit 18%, while that of foreign currency deposits registered 22.4%.

According to the CBE, the household sector accounted for 75.4% of total deposits, 78.4% of deposits in local currency, and 62.8% of foreign currency deposits.


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