CBE: 4.5% growth in Retail loans in the banking sector At 4M-2023

The latest statistical bulletin from the Central Bank of Egypt revealed a growth of approximately 4.46% in the portfolio of individual loans, reaching EGP785.932 bn by the end of April 2023, compared to EGP752.360 bn by the end of 2022, an increase of EGP 33.572 bn.

Retail loans in the local currency alone increased by a growth rate of 4.13%, rising by EGP30.682 bn during the first 4 months of the current year, reaching EGP 773.543 bn by the end of April 2023, compared to 742.861 bn by the end of December 2022.

Retail financing in foreign currencies jumped to the equivalent of EGP12.389 bn by the end of April 2023, compared to the equivalent of EGP9.499 bn by the end of December 2022, growing at a rate of 30.42% with an increase of EGP 2.431 bn during the first 4 months of the current year.

Retail loans accounted for about 17.71% of the total loans in the banking sector by the end of April 2023, compared to 18.75% by the end of December 2022.

It is worth noting that the total loans provided to customers by banks (excluding CBE) increased to EGP 4.438 tn by the end of April 2023, compared to EGP4.013 tn by the end of December 2022, achieving a growth rate of 10.6% and an increase of about EGP425 bn during the first 4 months of the current year.