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Banks’ credit facilities see EGP 226.6bn rise end of March, deposits up to EGP 3.930tn: CBE - Daily News Egypt

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Banks’ credit facilities see EGP 226.6bn rise end of March, deposits up to EGP 3.930tn: CBE

Private enterprise sector denominates 60.8% of total facilities, with industry in lead, according to CBE


The total credit facilities granted by banks to their customers increased by EGP 226.6bn to EGP 1.8563tn during the period from July 2018 to March 2019, according to the Central Bank of Egypt (CBE).

Credit facilities are loans provided by banks to their clients alongside documentary credits and letter of guarantees that were opened to cover import operations.

In its monthly report on the performance of banks and the economy, the CBE explained that the private enterprise sector has obtained about 60.8% of the total facilities granted by banks to all bodies excluding the government until March 2019.

It added that the industry sector has denominated 33.6% of these facilities, followed by the services sector by 27.5%, the trade sector by 10.9%, the agriculture sector by 1.5%, and miscellaneous sectors–including households–by 26.5%.

In another context, the CBE also announced the increase in customer deposits at banks by the end of March 2019 by EGP 51bn to EGP 3.930tn against EGP 3.879tn in February.

The CBE added that government deposits have risen in value by EGP 2.9bn to EGP 634bn at the end of March up from EGP 631.1bn at the end of February.

Government deposits in local currency reached EGP 512.7bn, while foreign currency deposits reached EGP 121.3bn.

Non-government deposits in banks recorded a rise in value by EGP 49bn at the end of March 2019 to EGP 3.296tn against EGP 3.247tn in February.

The CBE added that non-governmental deposits in local currency amounted to about EGP 2.547tn by the end of March, against EGP 2.492tn by the end of February.

The public enterprise sector has around EGP 57.4bn of deposits, while the private enterprise sector accounted for about EGP 368.3bn, and the household sector for about EGP 2.106tn.

The other sectors, including non-residents, reported deposits of EGP 81bn.

Deposits in foreign currencies recorded about EGP 749.7bn at the end of March against EGP 755.7bn in February.

The public enterprise sector has around EGP 40.4bn of deposits compared to EGP 203.6bn for the private enterprise sector, EGP 497.6bn for the household sector, and EGP 84bn for other sectors, including non-residents.

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https://dailyfeed.dailynewsegypt.com/2019/06/25/banks-credit-facilities-see-egp-226-6bn-rise-end-of-march-deposits-up-to-egp-3-930tn-cbe/
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