The Central Bank of Egypt (CBE) revealed that non-governmental deposits in local currency with banks increased to about EGP 5.036 trillion by the end of July 2022, compared to the previous month’s EGP 4.986 trillion — an increase of EGP 49.62bn.
The CBE explained in a recent report that demand deposits in local currency recorded EGP 774.428bn at the end of July — compared to EGP 766.379bn — EGP 48.917bn of which were from the public business sector, and EGP 487.99bn were from the private sector, while the household sector’s deposits amounted to EGP 237.762bn.
It also pointed out that the proceeds of time deposits and savings certificates amounted to about EGP 4.262 trillion, compared to EGP 4.220 trillion, pointing out that the public business sector acquired EGP 47.218bn of them, and the private sector EGP 238.255bn, while the household sector’s deposits amounted to EGP 3.976 trillion.
Furthermore, domestic liquidity in the Egyptian banking sector rose to EGP 6.708 trillion, compared to EGP 6.611 trillion, with the CBE pointing out that the money supply recorded EGP 1.575 trillion at the end of July, compared to EGP 1.544 trillion, while the cash circulating outside the banking system amounted to EGP 800.997bn, compared to EGP 778.8bn.
In the same context, the CBE said that non-governmental foreign currency deposits with banks rose during the month of July 2022 to the equivalent of about EGP 871.071bn, up from EGP 846.101bn.
It also clarified that these deposits are divided into demand deposits registered at the equivalent of about EGP 245.712bn and time deposits and savings certificates with a value equivalent to about EGP 625.359bn.
Additionally, the public business sector’s share of demand deposits amounted to EGP 14.511bn, the private business sector EGP 159.277bn, and the household sector the equivalent of EGP 72.039bn.
Moreover, the public business sector’s share of time deposits and savings certificates amounted to EGP 35.353bn, private business sector deposits EGP 124.3bn, and the household sector EGP 465.6bn.