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Egyptian banking sector reports net foreign assets of $17.382bn in April 2021 - Daily News Egypt

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Egyptian banking sector reports net foreign assets of $17.382bn in April 2021

Foreign currency deposits rose by $1bn in April


The net foreign assets of the Egyptian banking sector decreased $150.18m to about $17.382bn in April 2021, compared to $17.532bn in March.

According to a recent report by the Central Bank of Egypt (CBE), the volume of foreign assets in the banking sector amounted to $62.669bn in April 2021. This reflected a decrease of $291.24m compared to $62.960bn in March 2021.

The CBE said that the volume of its foreign assets increased slightly by $1.63m to reach $39.436bn in April 2021, compared to $39.435bn in March 2021.

Meanwhile, the volume of foreign assets in banks amounted to about $23.232bn in April 2021, compared to $23.525bn in March 2021, a decrease of $292.86m.

On the other hand, the total foreign commitments of the banking sector recorded about $45.287bn in April 2021. This compared to $45.428bn in March 2021, reflecting a decrease of $141.06m.

Foreign obligations on the CBE amounted to about $25.559bn in April 2021, compared to $25.558bn in March 2021, an increase of $1.69m.

Foreign liabilities on banks amounted to about $19.727bn in April 2021, compared to $19.870bn in March 2021, a decrease of $142.75m.

In the same context, the CBE revealed that the total deposits of the banking sector in foreign currency recorded about $41.908bn in April 2021. This reflected an increase of $1.006bn, compared to $40.901bn in March 2021.

Deposits in foreign currencies were divided into demand deposits, which amounted to $9.957bn, and time deposits and savings certificates, which recorded a value of $31.950bn.

Demand deposits in foreign currencies increased by $874.1m to reach $9.957bn in April 2021, compared to $9.083bn in March 2021.

The demand deposits of the public business sector amounted to $505.23m, the private business sector amounted to $6.047bn, and the household sector amounted to $3.405bn.

Time deposits and savings certificates in foreign currencies scored about $31.950bn in April 2021, compared to $31.817bn in March 2021, an increase of $132.86m.

The time deposits of the public business sector and saving certificates in foreign currencies amounted to $1.564bn, whilst the private business sector deposits amounted to $5.309bn, and the household sector amounted to $25.075bn.

“The total non-governmental deposits in local currency in the Egyptian banking sector recorded EGP 3.879trn in April 2021, compared to EGP 3.859trn in March 2021, an increase of EGP 19.250bn,” the report read.

Recent data from the CBE revealed that deposits in local currency were divided into demand deposits and recorded about EGP 550.405bn in April, compared to EGP 562.653bn in March, a decrease of EGP 12.248bn.

On the other hand, time deposits and savings certificates recorded about EGP 3.328trn in April, compared to EGP 3.297trn in March, an increase of about EGP 31bn.

The public business sector’s demand deposits in local currency amounted to EGP 29.176bn, the private sector amounted to EGP 302.612bn, and the household sector amounted to EGP 218.9bn.

The public business sector’s time deposits and savings certificates in local currency amounted to EGP 33.7bn, the private sector amounted to EGP 172.5bn, and the household sector amounted to EGP 3.122trn.

In the same context, CBE figures revealed an increase in the volume of domestic liquidity in the banking sector to record EGP 5.187trn in April 2021. This compared to EGP 5.131trn in March 2021, reflecting an increase of about EGP 52.862bn.

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https://dailyfeed.dailynewsegypt.com/2021/06/01/egyptian-banking-sector-reports-net-foreign-assets-of-17-382bn-in-april-2021/
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