CBE: Private sector deposits grow by 35.5%, recording EGP 1.72 tn during 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 35.5% to record EGP1.719 tn at the end of December 2023, compared to EGP1.271 tn at the end of December 2022, an increase of EGP448 bn.
Deposits volume to the private sector in local currency jumped by 34.1% and an increase of EGP 302.5 bn, to record EGP 1.189 tn at the end of December 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 38% to record EGP 530.8bn at the end of December 2023, compared to EGP 385.2 bn at the end of December 2022, an increase of EGP 145.6 bn.
Total banking sector deposits rose by 18.5% to record EGP 10.163tn at the end of December 2023, compared to EGP 8.580 tn at the end of December 2022, with an increase of EGP 1.583 tn.
