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41.9% increase in cash balances at banks in 2015/2016 - Daily News Egypt

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41.9% increase in cash balances at banks in 2015/2016

Insurance companies’ total financial position reached EGP 65.8bn


The total financial position of banks reached EGP 2,846bn in 2015/2016 compared to EGP 2,199bn in 2014/2015, an increase of 29.4%, according to the Central Agency for Public Mobilization and Statistics (CAPMAS).

A recent report issued by the agency on the annual bulletin of statistics and financial indicators for banks, insurance, currency exchange, and brokerage companies in 2015/2016 showed that the value of banks’ (public and private) deposits and current accounts reached EGP 2,116bn in 2015/2016 compared to EGP 1,734.2bn in 2014/2015, an increase of 22.0%.

Financial investments value reached EGP 1,283.6bn in 2015/2016 compared to EGP 1,016bn in 2014/2015, an increase of 26.3%. This increase is due to increased investments available.

CAPMAS noted that the value of cash balances reached EGP 456.5bn in 2015/2016 compared to EGP 321.8bn in 2014/2015, an increase of 41.9%. The increase is due to an increase in bank balances.

As for insurance companies (public and private), their total financial position reached EGP 65.8bn in 2015/2016 compared to EGP 59.9bn in 2014/2015, an increase of 10%.

The value of investments reached EGP 57.1bn in 2015/2016 compared to EGP 52.5bn in 2014/2015, an increase of 8.9 %.

Moreover, the value of net premiums reached EGP 13.2bn in 2015/2016 compared to EGP 11.7bn in 2014/2015, an increase of 13.6 %.

CAPMAS also pointed out that the value of net compensations reached EGP 7.6bn in 2015/2016 compared to EGP 6.5bn in 2014/2015, an increase of 18.1%.

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https://www.dailynewsegypt.com/2017/07/18/41-9-increase-cash-balances-banks-20152016/
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