CBE: Bank deposits grow by 5.14%, record EGP 9.02 tn, by Jan-2023end

The monthly statistical bulletin of the Central Bank of Egypt, issued on the bank’s website, revealed an increase in bank deposits (other than CBE), to record EGP 9.021 tn at the end of January 2023, compared to EGP8.580 tn at the end of 2022, achieving a growth rate of 5.14%, and an increase of EGP440,977. bn.

The banking sector deposit portfolio includes governmental and non-governmental deposits in both local and foreign currencies.

Total government deposits in both local and foreign currencies increased by a growth rate of 4.73%, reaching EGP 2.043 tn at the end of January 2023, compared to EGP 1.951 tn at the end of 2022, an increase of EGP 92.294 bn.

Non-governmental deposits in both local and foreign currencies jumped to EGP6.977 tn at the end of January 2023, compared to EGP6.628 tn at the end of 2022, achieving a growth rate of 5.26%, an increase of EGP348.683 bn.

Non-governmental deposits acquired the largest share of total bank deposits by 77.34% in January 2023, while government deposits acquired 22.66% of total bank deposits by the end of the same period.