Total non-government bank deposits in local currency recorded EGP 4.457trn in January 2022, down from EGP 4.469trn in December 2021.
Monthly data of the Central Bank of Egypt (CBE) revealed that demand deposits in local currency recorded EGP 650.5bn in January 2022, down from EGP 680.464bn in December 2021, while the volume of time deposits and savings certificates amounted to EGP 3.806trn compared to EGP 3.789trn — an increase of EGP 17bn.
Furthermore, the public business sector acquired EGP 45.237bn of demand deposits, the private sector EGP 376.7bn, and the household sector EGP 228.8bn.
The volume of time deposits and savings certificates for the public business sector amounted to EGP 39.620bn, the private sector EGP 186.418bn, and the household sector EGP 3.580trn.
In the same context, the CBE revealed an increase in the total deposits of the banking sector in foreign currencies equivalent to EGP 9.076bn during January 2022, reaching an equivalent of EGP 659.901bn, up from 2021’s EGP 650.825bn.
Additionally, the volume of demand deposits in foreign currencies amounted to EGP 164.027bn, and time deposits and savings certificates recorded the equivalent of EGP 495.874bn.
The CBE also explained that the public business sector’s demand deposits amounted to the equivalent of about EGP 13.454bn, the private business sector the equivalent of about EGP 97.400bn, and the household sector the equivalent of about EGP 53.660bn.
This comes at a time when the volume of public business sector time deposits and savings certificates amounted to about EGP 25.411bn, private business sector deposits equivalent to about EGP 87.042bn, and the household sector to about EGP 383.421bn.
In a related context, the CBE’s figures indicated that the local liquidity in the banking sector increased to EGP 5.825trn compared to EGP 5.822trn in December 2021, an increase of EGP 3.1bn.
According to the CBE, the money supply recorded EGP 1.359trn in January 2022, down from December’s EGP 1.382trn, while cash circulating outside the banking system recorded EGP 708.5bn compared to EGP 701.8bn, and current deposits in local currency amounted to EGP 650.55bn compared to EGP 680.5bn, while non-current deposits in local currency amounted to EGP 3.806trn compared to EGP 3.789trn, and quasi-money recorded EGP 4.466trn compared to EGP 4.440trn.