CBE: Bank Assets jump by 29.5%, recording EGP18.4tn during 4M- 2024

The latest monthly statistical bulletin of the Central Bank of Egypt, issued a little while ago on its official website, revealed an increase in bank assets (excluding CBE) from EGP14.201tn at the end of 2023, to EGP18.39 tn by the end of April 2024, growing by a rate of 29.5%, and an increase of EGP4.19tn during the period from January to April 2024.

Lending and discount balances for customers increased to EGP 6.957 tn at the end of April 2024, compared to EGP5.46 tn at the end of 2023, with a growth rate of 27.37% and an increase of EGP1.495tn during the first 4 months of 2024.

Banks' capital rose to EGP 451.253 bn at the end of April 2024, compared to EGP410.87at the end of 2023, with a growth rate of 9.83% and an increase of EGP40.37 during the first 4 months of the current year.

Reserves jumped by 67.17% to reach EGP 796.500 bn at the end of April 2024, compared to EGP 476.5 bn at the end of 2023, with an increase of EGP 320.027 bn.

Provisions increased by 33.70% to reach EGP463.829bn at the end of April 2024, compared to EGP346.922 bn at the end of 2023, with an increase of EGP 116.907 bn.