ArabFinance: The financial position of banks operating in Egypts local market leveled up by EGP 274 billion in October 2021, recent divs by the Central Bank of Egypt (CBE) showed.
The total financial position stood at EGP 8.758 trillion in October 2021, compared to EGP 8.484 trillion in October 2020.
The bank explained that that in terms of assets, the total cash balance in banks amounted to about EGP 64.659 billion, while the balances of banks locally amounted to EGP 1.406 trillion, and their balances abroad amounted to EGP 221.108 billion.
lending and discount balances to clients recorded EGP 2.996 trillion, while the stock portfolio and banks investments in treasury bills recorded EGP 3.052 trillion. Other assets that the CBE did not mention were also valued at EGP 1.017 trillion.
As for liabilities, the banks capital amounted to about EGP 201.769 billion, and reserves recorded EGP 354.882 billion, while the balance of provisions amounted to about EGP 183.930 billion.
The obligations of banks towards each other in Egypt amounted to about EGP 352.038 billion, while their obligations to banks abroad recorded EGP 125.159 billion, and the total deposits amounted to about EGP 6.175 trillion, while the balances of bonds and long-term loans amounted to EGP 239.803 billion. Other liabilities the CBE did not mention were valued at EGP 1.125 trillion.
According to the central bank, customer deposits in banks increased to EGP 6.191 trillion, compared to Septembers EGP 6.077 trillion, an increase of about EGP 114.1 billion.
The growth rate in the total deposits in banks amounted to about 18.22% during October 2021, compared to 17.71% in September, pointing out that the growth rate in deposits in local currency recorded 21.5% compared to 21%, while the growth rate of deposits in foreign currencies was 0.5%, compared to -0.3%.
Additionally, the share of deposits in foreign currencies decreased to 13.10% of the total deposits in banks in October 2021, compared to 13.17% in September.
The volume of government deposits in banks reached EGP 1.2trn, compared to the EGP 1.166trn recorded in September 2021.
As regards non-governmental deposits, they registered EGP 4.990 trillion in October 2021, compared to the previous months EGP 4.910 trillion, including deposits in local currency worth EGP 4.324 trillion and foreign currency deposits equivalent to EGP 665.370 billion.
According to the report, the household sector accounted for 82.7% of total deposits in banks until the end of October 2021. The sector accounted for about 85% of the total deposits in local currency, amounting to about EGP 3.660 trillion, while its share of deposits in foreign currencies amounted to about 67.7%, which is EGP 439.435 billion.
On the other hand, the public business sectors share of total non-governmental deposits in local currency amounted to about EGP 84.8 billion, the private sector EGP 453.787 billion, while the share of non-residents amounted to EGP 16.285 billion.
The share of the public business sector in the total non-governmental deposits in foreign currencies reached EGP 28.248 billion, the private business sector EGP 181.795 billion, while the share of non-residents amounted to about EGP 15.990 billion.
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