CBE: Banking sector loans Jump by 32%, recording EGP 5.29 tn by end of 2023

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 EGP5.29tn by the end of December 2023, compared to EGP4.01 tn at the end of December 2022, with a growth rate of 31.73%, and an increase of EGP1.27tn.

The total balance of lending to the government increased by 46.87%, to record EGP2.36 tn by the end of December 2023, compared to EGP1.61 tn at the end of 2022, with an increase of EGP752bn.

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 EGP1.26tn by the end of December 2023, compared to EGP973.5 bn at the end of December 2022, with a growth rate of 29.03%, and an increase of EGP282.6bn.

As for government loans in foreign currencies, they jumped to the equivalent of EGP1.10tn by the end of December 2023, compared to EGP631.1 bn at the end of December 2022, with a growth rate of 74.38%, and an increase of EGP469.4bn.

Non-government loans rose by 21.25%, to reach EGP2.93 tn by the end of December 2023, compared to EGP2.41 tn at the end of December 2022, with an increase of EGP521.3 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 EGP2.46tn by the end of N December 2023, compared to EGP2.56 tn at the end of December 2022, with a growth rate of 19.57%, and an increase of EGP403.2bn.

Non-government loans in foreign currencies rose to the equivalent of EGP467.3 bn by the end of December 2023, compared to EGP349 bn at the end of December 2022, with a growth rate of 33.87% and an increase of EGP118.2 bn.