CBE: Bank Assets grow by 16.5% during 4M-2023

The latest monthly statistical bulletin from CBE, released on the bank's website, revealed a 16.47% increase in the assets of the banking sector during the first 4 months of 2023, reaching EGP 13.377 tn by the end of April 2023, compared to EGP11.400 tn at the end of December 2022, with an increase of EGP1.877 tn.

Total securities and investments in t-bills increased by 6.60% and a value increase of EGP 292.4 bn during the first 4 months of the current year, reaching EGP 4.721 tn by the end of April 2023, compared to EGP4.428 tn at the end of December 2022.

Total lending and customer discount balances increased by 10.39%, with an increase of EGP425.3 bn during the first 4 months of the current year, moving from EGP4.094 tn at the end of December 2022 to EGP 4.519 tn by the end of April 2023.

Total capital of banks grew by 6.65% and an increase of EGP20.2 bn during the first 4 months of the current year, reaching EGP323.2 bn by the end of April 2023, compared to EGP 303 bn at the end of December 2022.

Total reserves of banks increased from EGP437.1 bn at the end of December 2022 to EGP484.4 bn at the end of April 2023, achieving a growth rate of 10.81% and an increase of EGP47.2 bn during the first 4 months of the current year.

Volume of balances at banks in Egypt jumped by 26.15% during the first 4 months of the current year, reaching EGP2.405 tn by the end of April 2023, compared EGP1.906 tn at the end of December 2022, achieving an increase of EGP 498.5 bn.

The volume of balances at banks abroad increased by 8.31% with a value increase of EGP27.4 bn during the first 4 months of the current year, reaching EGP357.1 bn by the end of April 2023, compared to EGP329.7 bn at the end of December 2022.