CBE: Bank deposits grow by 9.84%, reaching EGP 9.42 tn by May-2023end

According to the latest statistical bulletin released on its official website. Bank deposits (excluding the central bank) increased by 9.84% during the first 5 months of the current year, reaching EGP9.424 tn by the end of May 2023, compared to EGP8.580 tn by the end of 2022, with an increase of EGP844.128 bn.

 The banking sector's deposit portfolio includes government deposits and non-government deposits in both local and foreign currencies.

Government deposits in local and foreign currencies rose to EGP2.173 tn by the end of May 2023, compared to EGP1.951 tn by the end of 2022, with a growth rate of 11.40% and an increase of EGP222.445 bn.

Government deposits in local currency alone increased from EGP1.641 tn by the end of 2022 to EGP1.747 tn by the end of May 2023, with a growth rate of 6.48% and an increase of EGP106.446 bn.

Government deposits in foreign currencies amounted to EGP426.074 bn by the end of May 2023, compared to EGP310.075 bn by the end of 2022, with a growth rate of 37.41% and an increase of EGP115.999 bn.

As for non-government deposits in both local and foreign currencies, they rose to EGP7.250 tn by the end of May 2023, compared to EGP6.628 tn by the end of 2022, with a growth rate of 9.38% and an increase of EGP621.683 bn.

 Non-government deposits in local currency alone reached EGP 5.692 tn by the end of May 2023, compared to EGP5.433 tn by the end of 2022, with a growth rate of 4.77% and an increase of EGP258.920 bn.

Non-government deposits in foreign currencies amounted to EGP 1.558 tn by the end of last May, compared to EGP 1.195 tn by the end of 2022, with a growth rate of 30.35% and an increase of EGP362.763 bn.