CBE: Bank Assets grow by 24.6%, recording EGP14.2 tn by end of 2023

The latest monthly statistical bulletin of the Central Bank of Egypt, issued a little while ago on its official website, revealed an increase in bank assets (excluding CBE) from EGP11.40 tn at the end of December 2022, to EGP14.20 tn by the end of December 2023, growing by a rate of24.57%, and an increase of EGP2.80tn during the period from January to December 2023.

The securities and investments portfolio in t-bills rose to EGP 5.18 tn at the end of December 2023, compared to EGP4.428 tn at the end of 2022, with a growth rate of 17.07% and an increase of EGP 755 bn.

Lending and discount balances for customers increased to EGP 5.46 tn at the end of December 2023, compared to EGP4.09 tn at the end of 2022, with a growth rate of 33.43% and an increase of EGP 1.37 tn.

Banks' capital increased from EGP 303 bn at the end of 2022 to EGP410.9 bn at the end of December 2023, with a growth rate of 35.60%

Reserves increased by 9% to reach EGP 476.5 bn at the end of  2023, compared to EGP 437.1 bn at the end of 2022, with an increase of EGP 39.3 bn.

Provisions increased by 35.47% to reach EGP346.9bn at the end of December 2023, compared to EGP256.1 bn at the end of 2022, with an increase of EGP 90.8 bn.

Long-term bonds and loans in banks increased by 21.20%, reaching EGP 566.4 bn at the end of December 2023, compared to EGP467.31 bn at the end of 2022, with an increase of EGP99.1bn.

The balances in Egyptian banks reached EGP 2.61 tn at the end of December 2023, compared to EGP1.91 tn at the end of 2022, with a growth rate of 36.74% and an increase of EGP 700.5 bn.