CBE: household sector deposits soar to EGP 5.63 tn by August 2023 End
First Bank
The latest bulletin of the Central Bank of Egypt, issued on the bank’s website, revealed a growth in household sector deposits at a rate of 10.28% and an increase of EGP 524.8 mn during the first 8 months of last year, to record EGP 5.63 tn at the end of August 2023, compared to EGP5.11 tn at the end of December 2022.
Total household sector deposits in local currency only increased, at a growth rate of 6.70%, with an increase value of EGP 295.01 mn by August 2023end, to record EGP 4.7 tn at the end of August 2023, compared to EGP 4.4 tn at the end of December 2022.
Total household sector deposits in foreign currency jumped with a growth rate of 32.65%, to record EGP 933.6 bn at the end of August 2023, compared to EGP 703.9 bn at the end of December 2022, an increase of EGP 229.8 bn.
Total bank deposits (other than CBE) rose to EGP9.72 tn at the end of August 2023, compared to EGP 8.58 tn at the end of December 2022, achieving a growth rate of 13.27%, and an increase of EGP 1.14 tn during the first 8 months of last year.
