Deposits up EGP 52bn, loans EGP 27bn end-February: CBE

Hossam Mounir
2 Min Read

Customer deposits at banks reached EGP 3.45tn at the end of February 2018, up from EGP 3.39tn in January, rising by EGP 52bn, according to the Central Bank of Egypt (CBE).

In its monthly report on the performance of banks and the economy, the CBE said that government loans at banks scored EGP 543.5bn, while non-government deposits registered EGP 2.9tn.

According to the CBE, the household sector accounted for 66% of total deposits at the end of February 2018, with a value of EGP 2.28tn in local currency and hard cash.

In the same context, the CBE revealed that customers’ loans from banks at the end of February reached EGP 1.5tn, up by EGP 27bn from EGP 1.48tn in January.

The CBE noted that the value of loans granted to the government reached EGP 400.08bn, including EGP 187.6bn in local currency and EGP 212.4bn in foreign currencies.

“The total non-government loans in February 2018 scored EGP 1.1tn, including EGP 776.4bn in local currency and EGP 327.41bn in hard cash,” the CBE stated.

It added that agricultural activity accounted for EGP 9.91bn of total local currency loans, while the agriculture sector loans reached EGP 222.9bn and commercial sector loans scored EGP 86.34bn. The services sector accounted for EGP 199.19bn. Other sectors, including the household, individual, local sectors, NGOs, and foreign entities working in Egypt, were granted loans of EGP 255.09bn collectively.

Agricultural activity denominated EGP 2.25bn of foreign currency loans, industrial EGP 164.64bn, commercial EGP 17.82bn, services EGP 128.5bn, and other sectors took EGP 13.94bn of foreign currency loans.

Meanwhile, the CBE noted that the size of banks’ investments in securities portfolio, including investments in shares, bonds, and investment fund securities, were down by EGP 37bn, reaching EGP 1.64tn at the end of February, down from EGP 1.67tn at the end of January.

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