By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Popular video-sharing app TikTok was granted by the U.S. government a 15-day extension to reach a deal with U.S. buyers, a federal court filing showed Friday. This means the deadline for ByteDance, TikTok's Chinese parent company, to reach a deal with Oracle and Walmart has been extended from Nov. 12 to Nov. 27, according to the U.S. District Court for the District of Columbia.
    TikTok updates its community guidelines
    March 23, 2023
    IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses
    IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses
    March 23, 2023
    Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
    Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
    March 23, 2023
    EFG Hermes records EGP 11bn revenue in FY22
    EFG Hermes records EGP 11bn revenue in FY22
    March 23, 2023
    Egyptian Environment Minister discusses cooperation with WFP representative in Cairo 
    Egyptian Environment Minister discusses cooperation with WFP representative in Cairo 
    March 23, 2023
  • Politics
    PoliticsShow More
    Egypt's Health Minister discuss bilateral cooperation with an Italian delegation 
    Egypt’s Health Minister discuss bilateral cooperation with an Italian delegation 
    March 23, 2023
    Egypt’s foreign minister phones Algerian counterpart over boosting ties
    Egypt’s foreign minister phones Algerian counterpart over boosting ties
    March 22, 2023
    Turkish President  Recep Tayyip Erdoğan and Egypt President Abdel-Fattah Al-Sisi met in Doha
    Opinion| Türkiye and Egypt: For better times with many opportunities
    March 22, 2023
    Drought caused 43,000 deaths in Somalia in 2022: UN
    Drought caused 43,000 deaths in Somalia in 2022: UN 
    March 22, 2023
    Opinion| The Chinese dragon occupies America's place in the Middle East
    Opinion| The Chinese dragon occupies America’s place in the Middle East
    March 22, 2023
  • Interviews
    InterviewsShow More
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    March 15, 2023
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    March 12, 2023
    EGX ready for government’s IPOs programme: Chairperson
    EGX ready for government’s IPOs programme: Chairperson
    February 15, 2023
    British International Investment invests $4.5bn in 700 businesses across Africa: Sherine Shohdy
    February 15, 2023
    Valeo has invested around €0.5bn in Egypt over the past 10 years: CEO
    Valeo has invested around €0.5bn in Egypt over the past 10 years: CEO
    December 27, 2022
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Household sector accounts for 82.92% of Egypt’s bank deposits in October
Share
Notification
Latest News
Popular video-sharing app TikTok was granted by the U.S. government a 15-day extension to reach a deal with U.S. buyers, a federal court filing showed Friday. This means the deadline for ByteDance, TikTok's Chinese parent company, to reach a deal with Oracle and Walmart has been extended from Nov. 12 to Nov. 27, according to the U.S. District Court for the District of Columbia.
TikTok updates its community guidelines
Business
Strong representation of women in TV series of Ramadan 2023
Strong representation of women in TV series of Ramadan 2023
Culture Cinema
IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses
IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses
Business
Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
Business
EFG Hermes records EGP 11bn revenue in FY22
EFG Hermes records EGP 11bn revenue in FY22
Business
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > Household sector accounts for 82.92% of Egypt’s bank deposits in October
Business

Household sector accounts for 82.92% of Egypt’s bank deposits in October

Hossam Mounir
Last updated: 2020/12/13 at 7:22 PM
By Hossam Mounir 3 Min Read
Share
SHARE

The household sector acquired 82.92% of total bank deposits in October 2020, according to the Central Bank of Egypt (CBE).

According to CBE, the total deposits of the household sector amounted to about EGP 3.477trn, of which about EGP 3.027trn in local currency, and the equivalent of about EGP 450.151bn in foreign currencies.

The total bank deposits in Egypt reached about EGP 4.193trn, of which about EGP 3.547trn in local currency, an equivalent of about EGP 646.345bn in foreign currencies.

The CBE said that the local currency deposits increased by EGP 45.611bn to about EGP 3.547trn in October 2020, compared to about EGP 3.501trn in September 2020.

In a recent report, the CBE said that the total demand deposits in the local market amounted to about EGP 529.901bn in October, compared to EGP 523.515bn in September, an increase of EGP 6.386bn.

According to CBE, the volume of time deposits and savings certificates in local currency with banks increased by EGP 39.225bn during October to about EGP 3.017trn, compared to about EGP 2.978trn in September.

He explained that the public sector’s share of demand deposits amounted to about EGP 33.659bn, compared to EGP 291.984bn for the private sector, and about EGP 204.618bn for the household sector.

Moreover, the public sector’s share of time deposits and savings certificates amounted to about EGP 28.785bn, compared to about EGP 165.887bn for the private sector, and about EGP 2.822tn for the household sector.

In the same context, the CBE revealed an increase in the volume of foreign currency deposits with banks during October, equivalent to about EGP 1.84bn, to reach the equivalent of about EGP 646.345bn, compared to the equivalent of about EGP 644.505bn in September 2020.

The CBE stated that demand deposits in foreign currencies amounted to about EGP 133.582bn in October, compared to about EGP 134.27bn in September, a decrease of EGP 688m.

According to CBE, the volume of time deposits and savings certificates in foreign currencies with banks increased by about EGP 2.528bn during October 2020, to reach the equivalent of about EGP 512.763bn, compared to the equivalent of about EGP 510.235bn in September 2020.

The public sector’s share of demand deposits in foreign currencies amounted to about EGP 5.278bn, compared to about EGP 77.433bn for the private sector, and about EGP 50.892bn for the household sector.

The public sector’s share of time deposits and savings certificates in foreign currencies amounted to the equivalent of about EGP 29.595bn, compared to the equivalent of about EGP 83.909bn for the private sector, and the equivalent of about EGP 399.259bn for the household sector.

You Might Also Like

TikTok updates its community guidelines

IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses

Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023

EFG Hermes records EGP 11bn revenue in FY22

Egyptian Environment Minister discusses cooperation with WFP representative in Cairo 

TAGGED: bank, deposits, Household
Share this Article
Facebook Twitter Email Print
Previous Article Manasterly Palace hosts concert for Awtar Quartet
Next Article Egypt climbs 10 spots in Global Knowledge Index 2020
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Popular video-sharing app TikTok was granted by the U.S. government a 15-day extension to reach a deal with U.S. buyers, a federal court filing showed Friday. This means the deadline for ByteDance, TikTok's Chinese parent company, to reach a deal with Oracle and Walmart has been extended from Nov. 12 to Nov. 27, according to the U.S. District Court for the District of Columbia.
TikTok updates its community guidelines
Business
Strong representation of women in TV series of Ramadan 2023
Strong representation of women in TV series of Ramadan 2023
Culture Cinema
IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses
IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses
Business
Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
Business
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?