CBE achieves EGP 22.83 bn in net profit with 126.5% growth in 2023/2024

The financial statements of the Central Bank of Egypt, ended June 30 and issued on the official website of the Central Bank, revealed that its net profits increased by 126.46% to EGP 22.834 bn during the fiscal year ended June 2024, compared to losses of 86.283 bn during the fiscal year ended June 2023.

Net interest income rose by 1309% and an increase of EGP 100.6 bn, registering EGP 108.25 bn during the fiscal year ending June 2024, compared to 7.68 bn during the fiscal year ending June 2023.

In terms of its financial position, the Central Bank of Egypt's equity portfolio rose to EGP 52.79 bn by the end of June 2024, compared to 20 million by the end of June 2023.

The central bank's reserves grew by 8.06% during the fiscal year ending June 2024, registering EGP 401.22 bn by the end of June 2024, compared to EGP 371.28 bn by the end of June 2023, with an increase of EGP 29.94 bn.