Banking Sector Loans Grow By 28.22%, Records EGP3.9 tn By November-22end

The monthly statistical bulletin of the Central Bank of Egypt, revealed, today, that total banking sector loans increased by 28.22% during the first 11 months of 2022, to record EGP 3.888 tn at the end of November 2022, compared to EGP 3.032 tn at the end of December 2021.

While total banking sector loans increased on a monthly basis at a rate of 1.66%, to move from EGP3.824 tn at the end of October 2022, to EGP 3.888 tn at the end of November 2022.

Total government loans jumped by 31.10%, with an increase of EG354.2 bn during the first 11 months of last year, to record EGP1.493 tn at the end of November 2022, compared to EGP 1.139 bn at the end of December 2021.

Government loans also increased on a monthly basis at a rate of 1.77%, after moving from EGP 1.467 tn at the end of October 2022, to about EGP 1.493 tn at the end of November 2022, an increase of EGP 25.9 bn.

Government loans are divided into loans in local currency and loans in foreign currency, as government loans in local currency jumped by 14.69% during the first 11 months of last year, to record EGP880.5 bn at the end of November 2022, compared to EGP767.7 bn at the end of December 2021, with an increase value of EG112.8 bn.

While government loans in foreign currency jumped by 65.1% during the period from January to November of last year, after recording EGP612.3 bn at the end of November 2022, compared to EGP370.9 bn at the end of December 2021, an increase of 241.4 bn.

Non-governmental loans increased by a growth rate of 26.49%, with an increase of about EGP 501.6 bn during the first 11 months of last year, to record EGP 2.395 tn at the end of November 2022, compared to EGP 1.894 tn at the end of December 2022.

While non-governmental loans increased by 1.60% on a monthly basis, with an increase value of about EGP 37.8bn, from EGP 2.357tn at the end of last October, to reach EGP 2.395tn at the end of November 2022.

Non-governmental loans are divided into loans in local currency and loans in foreign currency, and government loans in local currency increased at a growth rate of 22.87% during the period from January to November of last year, to reach EGP 2.044 tn at the end of November 2022, compared to EGP1.664 tn at the end of December 2021, an increase amounting to EGP380.6 bn.

Total non-governmental loans in foreign currency jumped at a growth rate of 52.67% and an increase of EGP121.1 bn during the first 11 months of last year, to reach EGP350.9 bn by the end of November 2022, compared to EGP229.8 bn by the end of December 2021.