Central Bank of Egypt’s assets reach $165bln in January 2024

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The Central Bank of Egypt (CBE) announced that its total assets increased to EGP 5.107trn in January 2024, up from EGP 4.833trn in December 2023.

According to the CBE’s financial statements, the value of its gold reserves decreased slightly to EGP 257.01bn in January, down from EGP 260.1bn in December. On the other hand, the CBE’s reserves with the International Monetary Fund (IMF) almost doubled to EGP 22.8bn, up from EGP 12.552bn.

The statements also showed that the CBE achieved a net profit of EGP 80.230bn in January 2024, lower than the EGP 98.070bn it recorded in December 2022.

The CBE’s total liabilities and equity amounted to EGP 5.107trn, matching its total assets, with its capital reaching EGP 21.600bn, and its reserves standing at about EGP 371.245bn.

Moreover, the statements revealed that the CBE increased its contributions to the capital of international financial institutions to EGP 22.641bn in January 2024, up from EGP 21.758bn in December 2023.

The CBE maintained its total contributions to the capital of affiliated and sister companies at about EGP 47.821bn, the same level as in 2023.