CBE: household sector deposits grow by 12.8%, recording EGP 6.6 tn by end of March 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 12.8% and an increase of EGP 745 bn during the first 3 months of the current year, to record EGP 6.58 tn at the end of March 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 4.69%, with an increase value of EGP 229 bn by March 2024 End, to record EGP 5.13 tn at the end of March 2024, compared to EGP 4.90 tn at the end of December 2023.
Total household sector deposits in foreign currency jumped by 55.05%, to record EGP 1.45 tn at the end of March 2024, compared to EGP 936.1 bn at the end of December 2023.
Total bank deposits (other than CBE) rose to EGP 11.53 tn at the end of March 2024, compared to EGP 10.16 tn at the end of December 2023, achieving a growth rate of 13.49%, and an increase of EGP 1.37 tn during the first 3 months 2024.
