CBE: Securities portfolio rises to EGP4.86 tn by July-2023 end

The statistical bulletin issued by the Egyptian Central Bank on its official website recently revealed a 9.72% growth rate in the securities portfolio during the first 7 months of 2023, reaching EGP4.86 tn by the end of last July, compared to EGP4.43 tn by the end of 2022, an increase of EGP430.48 bn.

The financial statement of banks (excluding CBE) showed an increase in bank assets from EGP11.399 tn by the end of 2022 to EGP14.150 tn by the end of July 2023, with a growth rate of 24.13% and an increase of EGP2.750 tn.

Lending and discount balances for customers rose to EGP4.93 tn by the end of July 2023, compared to EGP4.09 tn by the end of 2022, with a growth rate of 20.46% and an increase of EGP 837.736 bn.

The banks' capital increased from EGP303.027 bn by the end of 2022 to EGP323.774 bn by 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 by the end of July 2023, compared to EGP 437.135 bn by the end of last year, with an increase of EGP60.657 bn.

Provisions increased by about 22.53% to reach EGP313.787 bn by the end of July 2023, compared to EGP256.093 bn by the end of 2022, with an increase of EGP57.694 bn.

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

The balances in Egyptian banks reached EGP2.47 tn by the end of July 2023, compared to EGP 1.91 tn by the end of 2022, with a growth rate of 29.77% and an increase of EGP 567.482 bn.

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