CBE: Bank deposits grow by 12.11%, reaching EGP9.62 tn by July-2023 end

 According to the latest statistical bulletin from the Central Bank of Egypt, deposits in commercial banks (excluding the Central Bank) increased by 12.11% in the first 7 months of this year, totaling EGP9.619 tn by the end of July 2023, compared to EGP 8.580 tn by the end of 2022, a growth of EGP1.039 tn.

The banking sector's deposit portfolio includes government deposits, as well as non-government deposits in both local and foreign currencies. Government deposits in local and foreign currencies rose to EGP2.19 tn by the end of July 2023, compared to EGP1.95 tn by the end of 2022, marking a growth rate of 12.26% and an increase of EGP239.211 bn.

Local currency government deposits alone increased by about 15.10% to reach EGP 1.89 tn by the end of July 2023, compared to EGP 1.64 tn by the end of 2022, an increase of EGP 247.825 bn.

Foreign currency government deposits amounted to EGP301.461 bn by the end of July 2023, compared to EGP310.075 bn by the end of 2022.

As for non-government deposits in both local and foreign currencies, they increased to EGP7.43 tn by the end of July 2023, compared to EGP6.63 tn by the end of 2022, with a growth rate of 12.07% and an increase of EGP799.84 bn.

Non-government deposits in local currency alone jumped by about 7.17% to reach EGP 5.82 tn by the end of July 2023, compared to EGP 5.43 tn by the end of 2022, an increase of EGP 389.386 bn.

Foreign currency non-government deposits amounted to EGP1.61 tn by the end of last July, compared to EGP1.2 tn by the end of 2022, with a growth rate of 34.34% and an increase of EGP410.46 bn.