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Egypt’s bank deposits in local currency increase by EGP 376.1bn during H1 2021 - Daily News Egypt

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Egypt’s bank deposits in local currency increase by EGP 376.1bn during H1 2021

Deposits in foreign currency reach equivalent of about EGP 650.870bn in June 2021


Egypt’s bank deposits in the local currency increased by EGP 376.104bn to EGP 4.036trn during the first half (H1) of 2021, compared to EGP 3.660trn in H2 2020, according to the Central Bank of Egypt (CBE).

CBE explained that there are two types of deposits: Demand deposits which recorded about EGP 585.309bn in June 2021, up from EGP 532.340bn in December 2020, an increase of EGP 52.969bn. Time deposits and savings certificates recorded about EGP 3.451trn in June 2021, compared to EGP 3.128trn last December.

The public business sector’s demand deposits amounted to EGP 34.238bn, the private sector EGP 326.677bn, and the household sector EGP 224.690bn. As for time deposits and savings certificates, the public business sector’s share recorded EGP 36.708bn, the private sector EGP 181.12bn, and the household sector EGP 3.233trn.

Moreover, the total deposits of the banking sector in foreign currency reached the equivalent of about EGP 650.870bn in June 2021, compared to about EGP 648.868bn in December 2020, an increase of about EGP 2.002bn.

Demand deposits in foreign currency amounted to the equivalent of about EGP 147.879bn, and time deposits and savings certificates reached about EGP 502.991bn.

The public business sector’s demand deposits in foreign currency amounted to about EGP 5.091bn, the private sector EGP 89.740bn, and the household sector to about EGP 53.100bn.

The time deposits and savings certificates in foreign currency amounted to about EGP 502.991bn in June 2021, compared to about EGP 512.949bn in December 2020. The public business sector accounted for the equivalent of about EGP 23.074bn, the private sector about EGP 84.576bn, and the household sector about EGP 395.341bn.

On the other hand, CBE said that the local liquidity in the banking sector amounted to EGP 5.3600trn in June 2021, compared to EGP 4.920trn in December 2020, an increase of about EGP 440bn.

CBE data revealed that the cash supply recorded EGP 1.258trn in June 2021, compared to EGP 1.143trn in December 2020.

Cash circulation outside the banking system recorded EGP 673.3bn in June 2021, compared to EGP 611.203bn in December 2020.

Current deposits in local currency recorded about EGP 585.309bn in June 2021, compared to EGP 532.340bn in December 2020.

Quasi money recorded about EGP 4.102trn in June 2021, compared to EGP 3.777trn in last December.

Non-current deposits in local currency scored about EGP 3.451trn in June, compared to EGP 3.128trn in last December.

Current and non-current deposits in foreign currency amounted to EGP 650.870bn in June 2021, compared to EGP 648.864bn in last December.

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https://dailyfeed.dailynewsegypt.com/2021/08/02/egypts-bank-deposits-in-local-currency-increase-by-egp-376-1bn-during-h1-2021/
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