CBE: household sector deposits soar to EGP 5.9 tn by end of February 2024
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 2.35% and an increase of EGP 137 bn during the first 2 months of the current year, to record EGP 5.97 tn at the end of February 2024, compared to EGP5.84 tn at the end of December 2023.
Total household sector deposits in local currency only increased, at a growth rate of 2.83%, with an increase value of EGP 139 bn by February 2024 End, to record EGP 5.04 tn at the end of February 2024, compared to EGP 4.90 tn at the end of December 2023.
Total household sector deposits in foreign currency declined by 0.2%, to record EGP 934.3 bn at the end of February 2024, compared to EGP 936.1 bn at the end of December 2023.
Total bank deposits (other than CBE) rose to EGP 10.62 tn at the end of February 2024, compared to EGP 10.16 tn at the end of December 2023, achieving a growth rate of 4.47%, and an increase of EGP 454 bn during the first 2M-2024
