CBE: Bank deposits grew by 8.5% and reached EGP9.3 tn by April-2023 end
First Bank
The statistical bulletin released on CBE's website revealed that total bank deposits (excluding CBE) increased by 8.49% during the first quarter of 2023, reaching EGP 9.309 tn by the end of April 2023, compared to EGP 8.580 tn at the end of December 2022, with an increase of EGP728.3 bn.
The portfolio of deposits in the banking sector (excluding CBE) consists of government deposits and non-government deposits in both local and foreign currencies.
Total government deposits in both local and foreign currencies increased by a growth rate of 7.86% during the first 4 months of the current year, reaching EGP 2.105 tn by the end of April 2023, compared to EGP 1.952 tn at the end of December 2022.
Regarding government deposits in the local currency only, they increased by a growth rate of 8.03% with an increase of EGP131.8 bn during the first four months of the current year, reaching EGP1.773 tn by the end of April 2023, compared to EGP1.641 tn at the end of December 2022.
The volume of government deposits in foreign currency increased by a growth rate of 6.94% during the first 4 months of the current year, reaching EGP331.6 bn by the end of April 2023, compared to EGP 310.1 bn at the end of December 2022, with an increase of EGP21.5 bn.
As for non-government deposits, the total portfolio in both local and foreign currencies reached EGP7.204 tn by the end of April 2023, compared to EGP6.629 tn at the end of December 2022, growing at a rate of 8.67% with an increase of EGP 575 bn during the first 4 months of the current year.
Total non-government deposits in local currency increased by a growth rate of 3.71% with an increase of EGP201.4 bn during the first 4 months of the current year, reaching EGP5.635 tn by the end of April 2023, compared to EGP5.433 tn at the end of December 2022.
Non-government deposits in foreign currency jumped to EGP1.569 tn by the end of April 2023, compared to EGP1.195 tn at the end of December 2022, growing at a rate of 31.25% and achieving an increase of EGP373.6 bn during the first 4 months of the current year.
