CBE: Banking sector loans increase by 22.8%, recording EGP 4.93 tn by August-2023end

The latest bulletin of the Central Bank of Egypt, issued a little while ago on its official website, revealed an increase in bank loans (excluding the central bank), to record EGP4.93 tn by the end of August 2023, compared to EGP4.01 tn at the end of December 2022, with a growth rate of 22.76%, and an increase of EGP913.5 bn.

The total balance of lending to the government increased by about 35.1%, to record EGP2.17 tn by the end of August 2023, compared to EGP1.60 tn at the end of 2022, with an increase of EGP562.5 bn.

Government loans are divided into loans in local currency and loans in foreign currencies, and by addressing government loans in local currency, we find that they rose to EGP1.18 tn by the end of August 2023, compared to EGP973.5 bn at the end of December 2022, with a growth rate of 21.3%, and an increase of EGP207.1 bn.

As for government loans in foreign currencies, they jumped to the equivalent of EGP986.5 bn by the end of August 2023, compared to EGP631.1 bn at the end of December 2022, with a growth rate of 56.31%, and an increase of EGP355.4 bn.

Non-government loans increased by about 14.6%, to reach EGP2.76 tn by the end of August 2023, compared to EGP2.41 tn at the end of December 2022, with an increase of more than EGP351 bn.

Non-government loans are divided into loans in local currency and loans in foreign currencies, and by addressing non-government loans in local currency, we find that they jumped to EGP2.31 tn by the end of August 2023, compared to EGP2.06 tn at the end of December 2022, with a growth rate of 12.03%, and an increase of EGP247.7bn.

Non-government loans in foreign currencies rose to the equivalent of EGP452.4 bn by the end of August 2023, compared to EGP349.05 bn at the end of December 2022, with a growth rate of 29.61% and an increase of EGP103.4 bn.