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Banks record EGP 8.2bn increase in deposits in November: CBE - Daily News Egypt

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Banks record EGP 8.2bn increase in deposits in November: CBE

Banks also saw a EGP 2.3bn increase in loans during the same month

The total deposits in banks, excluding the Central Bank of Egypt (CBE), increased by EGP 8.205bn during November 2015, to record approximately EGP 1.88tr.

This compares to EGP 1.872tr end of October, according to a CBE report issued Wednesday.

The CBE revealed that government deposits accounted for about 15.57% of the total deposits in the banking sector, which stood at EGP 292.91bn in November, of which EGP 208.67bn were in local currency, while EGP 84.237bn were in foreign currencies.

Non-government deposits amounted to approximately EGP 1.587tr by the end of November, of which EGP 1.307tr were in local currency, and EGP 280.336bn in foreign currencies.

Total deposits in banks increased by 21.22% during November, with deposits in local currency increasing by 22.2%, and foreign currency deposits rising by 16.7%.

The household sector accounted for approximately 77.8% of total deposits in local currency at banks, while around 62.6% were foreign currency deposits.

In another indicator of the performance of banks during November 2015, the CBE revealed that loans provided to customers from banks increased to EGP 780.417bn, marking a EGP 2.32bn increase, during the same period.

Total government loans registered EGP 100.749bn, of which EGP 40.687bn were in local currency while EGP 60.062bn were in foreign currencies.

The total non-governmental loans amounted to EGP 679.668bn by the end of November, of which EGP 495.504bn were in local currency, with EGP 184.164bn in foreign currencies.

According to the CBE, the private sector acquired approximately 76.1% of the total loans granted by banks to their customers during November 2015.

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