The latest statistical bulletin the Central Bank of Egypt, released on the banks website recently, reveals an

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CBE: Banking sector loans rise by approximately 10.6% by April-2023 end

First Bank

9/26/2023 1:45:00 PM

CBE

The latest statistical bulletin from the Central Bank of Egypt, released on the bank's website recently, reveals an increase in loans provided to customers by banks (excluding CBE) to EGP 4.438 tn by the end of April 2023, compared to EGP 4.013 tn at the end of December 2022, growing at a rate of 10.59% with an increase of EGP 424.9 bn during the first 4 months of the current year.

Total government loans increased by 13.64% with an increase of EGP 218.8 bn during the first 4 months of the current year, reaching EGP 1.823 tn by the end of April 2023, compared to EGP 1.605 tn at the end of December 2022.

Government loans are divided into local currency loans and foreign currency loans. Local currency government loans amounted to approximately EGP 938.4 bn by the end of April 2023, compared to EGP 973.5 bn at the end of December 2022, decreasing by 3.60% during the first 4 months of the current year.

As for foreign currency government loans, they increased by a growth rate of 40.23% during the first 4 months of the current year, reaching EGP 885 bn by the end of April 2023, compared to EGP 631.1 bn at the end of December 2022, with an increase of EGP 253.9 bn.

Non-government loans increased by a growth rate of 8.56%, achieving an increase of EGP 206.1 bn during the first 4 months of the current year, reaching EGP 2.614 tn by the end of April 2023, compared to EGP 2.408 tn at the end of December 2022.

Non-government loans are also divided into local currency loans and foreign currency loans, with local currency non-government loans increasing by a growth rate of 5.14% during the first 4 months of the current year, reaching EGP 2.165 tn by the end of April 2023, compared to EGP 2.059 tn at the end of December 2022.

Foreign currency non-government loans jumped by a growth rate of 28.72% with an increase of EGP 100.2 bn during the first 4 months of the current year, moving from EGP 349 bn at the end of December 2022 to EGP 449.3 bn by the end of April 2023.