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Deposits up by EGP 30bn, loans down by EGP 13bn at end of July: CBE - Daily News Egypt

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Deposits up by EGP 30bn, loans down by EGP 13bn at end of July: CBE

Deposits amount to EGP 3.07tn against EGP 1.405tn of loans

The Central Bank of Egypt (CBE) revealed a rise in the volume of bank deposits by EGP 30bn to EGP 3.07tn at the end of July 2017, up from EGP 3.04tn at the end of June.

In its recent report issued on Monday, the CBE said that total government deposits decreased to reach EGP 3.5203tn, including EGP 393.9bn of loans in local currency and EGP 126.6bn in foreign currencies.

It added that total non-government deposits rose during July to reach about EGP 2.549tn, compared to EGP 2.519tn in the month before.

Moreover, foreign currencies deposits increased to EGP 692.5bn in July 2017 compared to EGP 702bn in June.

The public business sector has accounts for EGP 38.6bn, while the private business sector accounted for EGP 186.8bn; household for EGP 459bn and other categories, including non-residents, remittances, and purchase checks, accounted for EGP 84bn.

The total non-government deposits in local currency increased to EGP 1.857tn, of which the public business sector accounted for EGP 47.7bn, private sector for EGP 258.4bn, and household for EGP 1.512tn.

On the other hand, the CBE said that loans provided to banks’ clients declined to EGP 1.405tn in July 2017, down by EGP 13bn from EGP 1.418tn in June.

The CBE explained that the total size of loans granted to the government registered EGP 351.4bn in July, including EGP 142.9bn in local currency and EGP 208.4bn in foreign currencies.

According to the CBE, total non-government loans declined in July to EGP 1.05tn, including EGP 715.4bn in local currency.

The agriculture activity has accounted for EGP 80.8bn of the loans of banks, industrial sector for EGP 212.6bn, commercial sector for EGP 78.8bn, services for EGP 185.1bn, and the other sectors, including household, normal individuals, local nonprofit entities, and foreign entities working in Egypt, for EGP 230.7bn.

The report also noted that the total deposits in foreign currencies amounted to EGP 339bn, of which the agriculture sector accounted for EGP 2.6bn, industrial sector for EGP 167.2bn, commercial sector for EGP 21.5bn, services for EGP 132.6bn, while other sectors accounted for EGP 149.6bn.

Topics: CBE Loans

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