Daily News Egypt

Bank deposits in local, foreign currencies hike to EGP 4.153trn, $40.925bn, respectively, in August 2021 - Daily News Egypt

Advertising Area

Advertising Area

Bank deposits in local, foreign currencies hike to EGP 4.153trn, $40.925bn, respectively, in August 2021

Liquidity in banking sector increases to EGP 5.489trn in August


Deposits in the local currency at banks operating in Egypt increased to EGP 4.153trn in August 2021, compared to EGP 4.069trn in July 2021, according to the Central Bank of Egypt (CBE).

CBE explained that there are two types of deposits: demand deposits, which recorded about EGP 615.997bn, and time deposits and savings certificates, which both recorded about EGP 3.537trn.

The public business sector’s demand deposits amounted to EGP 37.691bn, while the private sector and the household sector recorded EGP 351.323bn and EGP 227.251bn, respectively.

As for time deposits and savings certificates, the public business sector’s share recorded EGP 38.882bn, the private sector EGP 178.763bn, and the household sector EGP 3.319trn.

CBE revealed that liquidity in the banking sector increased to EGP 5.489trn in August, compared to EGP 5.425tn in July.

Cash supply recorded EGP 1.307trn in August, compared to EGP 1.285trn in July 2021, with an increase of EGP 21.8bn.

Cash circulation outside the banking system was estimated at EGP 691.5bn in August, compared to EGP 699.46bn in July.

Current deposits in local currency amounted to EGP 615.9bn in August, compared to about EGP 586.2bn in July, while quasi-money recorded EGP 4.181trn, compared to about EGP 4.139trn.

CBE revealed that non-current deposits in local currency recorded EGP 3.537trn in August 2021, compared to about EGP 3.482trn in July. 

Meanwhile, bank deposits in foreign currency reached $40.925bn in August 2021.

Demand deposits in foreign currency amounted to about $9.201bn, while time and saving certificates amounted to $31.723bn. 

The public business sector’s demand deposits in foreign currency amounted to about $357.19m, the private sector EGP $5.447bn, and the household sector $3.401bn.

The public business sector accounted for $1.404bn of total time deposits and savings certificates in foreign currency, the private sector $5.573bn, and the household sector $24.745bn.

CBE said that net foreign assets in the Egyptian banking sector and CBE amounted to $10.081bn in August 2021.

The volume of foreign assets of the banking sector was $55.366bn in August 2021.

CBE’s foreign assets amounted to $39.579bn, while net foreign assets of banks recorded $15.787bn in August 2021.

Total foreign liabilities owed by the banking sector amounted to about $45.285bn in August. Foreign liabilities owed by CBE amounted to $25.074bn, while the volume of liabilities of banks amounted to $20.211bn.

Topics: bank deposits

Advertising Area

https://dailyfeed.dailynewsegypt.com/2021/10/02/bank-deposits-in-local-foreign-currencies-hike-to-egp-4-153trn-40-925bn-respectively-in-august-2021/
Breaking News

No current breaking news

Receive our daily newsletter
Subscribe