CBE: Bank assets grow by 24.13%, recording EGP 14.15 tn byJuly-2023end

The latest monthly statistical report from the Central Bank of Egypt, released on its official website, reveals that bank assets (excluding CBE) increased from EGP11.399 tn at the end of 2022 to EGP14.150 tn at the end of July 2023, with a growth rate of 24.13% and an increase of EGP2.750 tn.

The securities and investments portfolio in t+bills rose to EGP 4.858 tn at the end of July 2023, compared to EGP4.428 tn at the end of 2022, with a growth rate of 9.72% and an increase of EGP430.477 bn.

Lending and discount balances for customers increased to EGP4.93 tn at the end of July 2023, compared to EGP4.09 tn at the end of 2022, with a growth rate of 20.46% and an increase of EGP837.736 bn.

Banks' capital increased from EGP303.027 bn at the end of 2022 to EGP323.774 bn at the end of July 2023, with a growth rate of 6.85% and an increase of EGP20.747 bn.

Reserves increased by about 13.88% to reach EGP497.792 bn at the end of July 2023, compared to EGP 437.135 bn at the end of the previous year, with an increase of EGP60.657 bn.

Provisions increased by about 22.53% to reach EGP313.787 bn at the end of July 2023, compared to EGP256.093 bn at the end of 2022, with an increase of EGP 57.694 bn.

Long-term bonds and loans in banks increased by about 16.86%, reaching EGP546.102 bn at the end of July last year, compared to EGP467.309 bn at the end of 2022, with an increase of EGP78.793 bn.

The balances in Egyptian banks reached EGP2.47 tn at the end of July 2023, compared to EGP1.91 tn at the end of 2022, with a growth rate of 29.77% and an increase of EGP 567.482 bn.

The balances in foreign banks amounted to EGP331.137 bn at the end of last July, compared to EGP329.735 bn at the end of 2022.