CBE: household sector deposits grow by 12%, recording EGP 5.71 tn by October -2023 End

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 12% and an increase of EGP 608.7 bn during the first 10 months of last year, to record EGP 5.714 tn at the end of October 2023, compared to EGP5.10 tn at the end of December 2022.

Total household sector deposits in local currency only increased, at a growth rate of 9%, with an increase value of EGP 387.8 mn by October 2023 End, to record EGP 4.789 tn at the end of October 2023, compared to EGP 4.40 tn at the end of December 2022.

Total household sector deposits in foreign currency jumped with a growth rate of 31.4%, to record EGP 924.8 bn at the end of October 2023, compared to EGP 703.9 bn at the end of December 2022, an increase of EGP 221 bn.

Total bank deposits (other than CBE) rose to EGP 9.87 tn at the end of October 2023, compared to EGP 8.58 tn at the end of December 2022, achieving a growth rate of 15.2%, and an increase of EGP 1.305 tn during the first 10 months of last year.