CBE: Bank Assets grow by 27%, recording EGP14.47 tn At 8M-2023

The latest monthly statistical bulletin of the Central Bank of Egypt, issued a little while ago on its official website, revealed an increase in bank assets (excluding CBE) from EGP11.40 tn at the end of December 2022, to EGP14.47 tn by the end of August 2023, growing by a rate of 27%, and with an increase of EGP3.07 tn during the period from January to August 2023.

The securities and investments portfolio in t-bills rose to EGP 4.764 tn at the end of August 2023, compared to EGP4.428 tn at the end of 2022, with a growth rate of 7.58% and an increase of EGP 335.6 bn.

Lending and discount balances for customers increased to EGP 5.006 tn at the end of August 2023, compared to EGP4.094 tn at the end of 2022, with a growth rate of 22.29% and an increase of EGP 912.3 bn.

Banks' capital increased from EGP 303 bn at the end of 2022 to EGP359.3 bn at the end of August 2023, with a growth rate of 18.56%

Reserves increased by about 16.55% to reach EGP 509.5 bn at the end of  2023, compared to EGP 437.135 bn at the end of the previous year, with an increase of EGP 72.3 bn.

Provisions increased by 24.35% to reach EGP318.5 bn at the end of August 2023, compared to EGP256.093 bn at the end of 2022, with an increase of EGP 256.1 bn.

Long-term bonds and loans in banks increased by about 16.89%, reaching EGP 546.2 bn at the end of August 2023, compared to EGP467.309 bn at the end of 2022, with an increase of EGP78.9 bn.

The balances in Egyptian banks reached EGP 2.729 tn at the end of August 2023, compared to EGP1.91 tn at the end of 2022, with a growth rate of 43.14% and an increase of EGP 822.3 bn.

The balances in foreign banks amounted to EGP309.5 bn at the end of last August, compared to EGP329.735 bn at the end of 2022