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EGP 55bn increase in bank deposits, EGP 39bn increase in loan portfolio in May 2017: CBE - Daily News Egypt

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EGP 55bn increase in bank deposits, EGP 39bn increase in loan portfolio in May 2017: CBE

Foreign investments in T-bills hike to EGP 176,000bn at the end of June, compared to EGP 136.157bn at end of May


Total deposits in banks working in the local market, excluding the Central Bank of Egypt (CBE), have increased by EGP 55bn in the end of May 2017 to reach EGP 2.973tr compared to EGP 2.918tr in April 2017, according to the CBE.

The CBE explained in a recent report that total government deposits reached EGP 511.1bn including EGP 315.4bn deposits in the local currency and equivalent of EGP 195.6bn deposits in foreign currencies.

Non-government deposits in banks increased in May to reach EGP 2.462tr compared to EGP 2.413tr in April, with an increase of EGP 49bn.

In the same context, the CBE revealed an increase in the total balances of loans provided from banks to clients in April with an increase of EGP 39bn.

The total amounts of loans provided to the government reached EGP 335.8bn, including EGP 143.1bn in local currency and EGP 192.6bn in foreign currencies. On the other hand, total non-government loans increased to EGP 1.06tr, including EGP 711.2bn in local currency, and nearly EGP 350.7bn in foreign currencies.

“The agriculture activity acquired EGP 77.4bn of the total loans in the local currency, while the industrial activity acquired EGP 212.6bn, and the commercial activity acquired EGP 79.7bn. The service sector acquired EGP 183.2bn. The rest of the sectors acquired EGP 227.7bn. These sectors included family, individuals, local authorities, and foreign non-profit organisations,” the CBE said.

The CBE added that the agricultural sector accounted for EGP 2.47bn of total loans provided from banks to their clients in foreign currencies, and the industrial sector accounted for EGP 172.9bn, the commercial sector accounted for EGP 135.6bn, in addition to the other sectors which accounted for EGP 15.8bn.

The CBE also revealed that foreign investments in T-bills launched by the Egyptian government increased to EGP 176.6bn by the end of June 2017, compared to EGP 136.157bn by the end of May 2017.

Investments of public banks reached EGP 275.7bn at the end of June 2017, compared to EGP 286.7bn by the end of May 2017, while investments of the private sector banks reached EGP 224.630bn compared to EGP 219.89bn.

“Investments of banks in securities, such as stocks, bonds, and investment fund documents, declined to EGP 1.554tr by the end of May 2017, compared to EGP 1.570tr by the end of April 2017, with a decline of 1.04%,” the CBE said.

It explained that banks’ investments in these instruments in the local currency recorded EGP 1.092tr at the end of May, while investments in foreign currencies recorded EGP 462.4bn.

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https://wwww.dailynewssegypt.com/2017/08/27/egp-55bn-increase-bank-deposits-egp-39bn-increase-loan-portfolio-may-2017-cbe/
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