CBE: Private sector deposits grow by 32.3%, recording EGP 1.68 tn during 10M- 2023
First Bank
The monthly statistical bulletin of the Central Bank of Egypt revealed that total deposits of the private business sector in local and foreign currencies increased by 32.3% to record EGP1.681 tn at the end of October 2023, compared to EGP1.271 tn at the end of December 2022, an increase of EGP410 bn.
Deposits volume to the private sector in local currency jumped by 28% and an increase of EGP 248.3 bn, to record EGP 1.134 tn at the end of October 2023, compared to EGP 886.1 bn at the end of December 2022.
In addition, the size of deposits to the private sector in foreign currency only surged by 42% to record EGP 546.9 bn at the end of October 2023, compared to EGP 385.2 bn at the end of December 2022, an increase of EGP 161.7 bn.
Total banking sector deposits rose by 15.2% to record EGP 9.886 tn at the end of October 2023, compared to EGP 8.580 tn at the end of December 2022, with an increase of EGP 1.305 tn.
