CBE: Banks' assets grow by 13.78%, recording EGP 12.971 tn by March 2023end

The monthly statistical bulletin of the Central Bank of Egypt, issued on the bank's website, revealed an increase in the assets of the banking sector by 13.78% during the first quarter of 2023, to record EGP12.971 tn by the end of March 2023, compared to EGP11.400 tn by the end of December 2022, an increase of EGP1.571 tn.

Total securities and investments in t-bills increased by a growth rate of 8.78% and an increase of EGP389 bn during the first 3 months of the current year, to reach EGP4.817 tn by the end of March 2023, compared to EGP4.428 tn by the end of December 2022.

Total balances of loans and discounts to customers also increased by a growth rate of 9.48%, and an increase of EGP388.2 bn during the first quarter of the current year, moving from EGP4.094 tn by the end of December 2022, and reaching EGP4.482 tn by the end of March 2023.

Total capital of banks jumped by a growth rate of 6.47% and an increase of EGP19.6 bn during the first quarter of the current year, to reach EGP322.6 bn by the end of March 2023, compared to EGP303 bn by the end of December 2022.

Total reserves of banks increased from EGP437.1 bn by the end of December 2022, to EGP488.7 bn by the end of March 2023, achieving a growth rate of 11.80% and an increase of EGP51.6 bn during the first quarter of the current year.

Balances with banks in Egypt rose to EGP2.191 tn by the end of March 2023, compared to EGP1.906 tn by the end of December 2022, with a growth rate of 14.92% and an increase of EGP 284.4 bn during the first quarter of the current year.

The volume of balances with banks abroad increased by 1.14% during the first quarter of the current year, to record EGP333.5 bn by the end of March 2023, compared to EGP329.7 bn by the end of December 2022, an increase of EGP3.770 bn.