CBE: Private sector deposits grow by 14.3%, recording EGP 1.97 tn by March -2024end
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 14.34% to record EGP1.97 tn at the end of March 2024, compared to EGP1.72 tn at the end of December 2023, an increase of EGP247 bn.
Deposits volume to the private sector in foreign currency only jumped by 55.83% and an increase of EGP 296 bn, to record EGP 827.2 bn at the end of March 2024, compared to EGP 530.8bn at the end of December 2023.
The size of deposits to the private sector in local currency declined by 4% to record EGP 1.14tn at the end of March 2024, compared to EGP 1.19 bn at the end of December 2023.
Total banking sector deposits rose by 13.49% to record EGP 11.53tn at the end of February 2024, compared to EGP 10.16 tn at the end of December 2023, with an increase of EGP 1.37tn.
