CBE’s net profits surge by 54%, reaching EGP44.1Bn in October 2023

The financial statement for the Central Bank of Egypt, ending on October 31, 2023, revealed a 54% growth in its net profits last month, totaling EGP 44.777 bn in October 2023, compared to EGP29.072 bn in September 2023.

CBE’s total assets grew by 32.32% in the first 10 months of this year, reaching EGP4.729 tn by the end of October 2023, compared to EGP3.574 tn by the end of December 2022.

Gold reserves increased by 38% in the first 10 months of the current year, reaching EGP249.6 bn by the end of October 2023, compared to about EGP181 bn by the end of December 2022.

CBE’s balances with banks rose by 96% in the first 10 months of the current year, totaling around EGP 512.9 bn by the end of October 2023, compared to EGP 261.1 bn by the end of December 2022.

Regarding the contributions of CBE in the capital of international financial corporates, its contributions increased from EGP16.190 bn at the end of December 2022 to EGP20.257 bn by the end of October 2023, jumping by a growth rate of 25% in the first 10 months of the current year.

CBE’s contributions to the capital of affiliated and sister companies also jumped by 55% in the first 10 months of the current year, reaching EGP46.039 bn by the end of October 2023, compared to EGP29.670 bn by the end of December 2022.