CBE: Bank Assets Grow by 12.11% and Reach EGP12.78 Tn by Feb-2023end

The monthly statistical bulletin issued by the Central Bank of Egypt, released recently on the bank's website, revealed a rise in  the banking sector assets by 12.11%, reaching EGP12.78 tn by the end of February 2023, compared to EGP11.4 tn by the end of 2022, with an increase of EGP1.38 tn.

Total capital of banks jumped to EGP317.053 bn by the end of February 2023, compared to EGP303.027 bn by the end of 2022, achieving a growth rate of 4.63%, with an increase of EGP14.03 bn.

Total reserves of banks increased from EGP437.135 bn by the end of 2022 to EGP455.895 bn by the end of February 2023, achieving a growth rate of 4.29%, with an increase of 18.76 bn.

Securities and investments in T-bills jumped by 7.23%, reaching EGP4.748 tn by the end of February 2023, compared to EGP4.428 tn by the end of 2022, with an increase of EGP32 bn.

Total balances of lending and customer discounts increased from EGP4.093 tn by the end of 2022 to EGP4.372 tn by the end of February 2023, with a growth rate of 6.8% and an increase of EGP279 bn.

Balances at banks in Egypt rose to EGP2.313 tn by the end of February 2023, compared to EGP1.906 tn by the end of 2022, with a growth rate of 21.35% and an increase of EGP407 bn.

Balances at foreign banks increased by 14.98%, reaching EGP379.134 bn by the end of February 2023, compared to EGP329.735 bn by the end of 2022, with an increase of EGP49.399 bn.