CBE: Banking sector loans increase by 9.64%, recording EGP4.40 tn by March-2023end

The latest statistical bulletin of the Central Bank of Egypt revealed an increase in bank loans (excluding CBE) to EGP4.400 tn by the end of March 2023, compared to EGP4.013 tn by the end of December 2022, achieving a growth rate of 9.64%, and an increase of EGP386.993 bn.

Total government loans increased by a growth rate of 12.22% and an increase of EGP196.053 bn on an annual basis, to record EGP1.801 tn by the end of March 2023, compared to EGP1.604 tn by the end of December 2022.

Government loans are divided into loans in local currency and loans in foreign currency, where government loans in local currency recorded EGP929.783 bn by the end of the first quarter of 2023, compared to EGP973.475 bn by the end of December 2022.

Government loans in foreign currency jumped by a rate of 37.99% on an annual basis, to record EGP870.840 bn by the end of March 2023, compared to EGP631.095 bn by the end of 2022, an increase of EGP239.745 bn.

Non-government loans increased by a growth rate of 7.93% on an annual basis, to reach EGP2.599 tn by the end of the first quarter of 2023, compared to EGP2.408 tn by the end of December 2022, an increase of EGP190.940 bn.

Non-government loans are divided into loans in local currency and loans in foreign currency, and government loans in local currency increased by a growth rate of 4.48% on an annual basis, to record EGP2.151 tn by the end of March 2023, compared to EGP2.059 tn by the end of December 2022, an increase of EGP92.274 bn.

Non-government loans in foreign currency jumped by a growth rate of 28.27% and an increase of EGP98.666 bn on an annual basis, to move from EGP349.046 bn by the end of December 2022, and reach EGP349.046 bn by the end of the first quarter of this year.