CBE: household sector deposits soar to EGP 5.8 tn by end of 2023
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 14.31% and an increase of EGP 730.46 bn during the last year, to record EGP 5.835 tn at the end of December 2023, compared to EGP5.105 tn at the end of December 2022.
Total household sector deposits in local currency only increased, at a growth rate of 11.32%, with an increase value of EGP 498.211 bn by December 2023 End, to record EGP 4.899 tn at the end of December 2023, compared to EGP 4.401 tn at the end of December 2022.
Total household sector deposits in foreign currency jumped with a growth rate of 33%, to record EGP 936.108 bn at the end of December 2023, compared to EGP 703.856 bn at the end of December 2022, an increase of EGP 232.25bn.
Total bank deposits (other than CBE) rose to EGP 10.16 tn at the end of December 2023, compared to EGP 8.58 tn at the end of December 2022, achieving a growth rate of 18.45%, and an increase of EGP 1.58 tn during the last year.
