Egyptian banking sector’s total loans jump 17.7 % in 8M; CBE

Total loans of banking sector increased by 17.71% to record EGP 3.569 trillion at the end of August 2022, compared to EGP 3.032 trillion at the end of December 2021, according to Central Bank of Egypt monthly bulletin.

However, total loans of banking sector increased by 1.33% on a monthly basis to rise from EGP 3.522 trillion at the end of July 2022 to EGP 3.569 trillion at the end of August 2022.

Furthermore, total government loans increased by 16.59% to post EGP 1.328 trillion at the end of August 2022, compared to EGP 1.139 billion at the end of December 2021 with an increase of about EGP 189 billion with 8M-22.

In addition, government loans also increased on a monthly basis by 1.07%, from EGP 1.314 trillion at the end of July 2022 to EGP 1.328 trillion at the end of August 2022.

Government loans are divided into loans in local currency and loans in foreign currency; government loans in local currency jumped by 14.07% during the first 8 months of 2022, to record 875.745 billion pounds at the end of August 2022, compared to 767.730 billion pounds at the end of December 2021, with an increase value of 108.015 billion pounds.

However, government loans in foreign currency recorded 452.424 billion pounds at the end of August 2022, compared to 370.904 billion pounds at the end of December 2021 recording an increase of 21.98% during the first 8 months of 2022.

Non-government loans increased by 18.27%, with an increase of 346 billion pounds during the first 8 months of 2022, to record 2.240 trillion pounds at the end of August 2022, compared to 1.894 trillion pounds at the end of December 2021.

While non-government loans increased by 1.45%, with an increase value of about 32 billion pounds on a monthly basis, to move from 2.208 trillion pounds at the end of July 2022, to 2.240 trillion pounds at the end of last August.

Non-government loans are divided into loans in local currency and loans in foreign currency; government loans in local currency increased at a growth rate of 18.39% during the first 8 months of 2022 to post EGP 1.970 trillion at the end of August 2022, compared to EGP 1.664 trillion at the end of December 2021.

Moreover, loans in local currency increased on a monthly basis by 1.39%, jumping from 1.943 EGPtrillion at the end of July 2022, to EGP1.970 trillion at the end of last August.

Total loans in foreign currency seen a growth rate of 11.53% during the first 8 months of 2022; to record 270.695 billion pounds at the end of August 2022, compared to 242.706 billion pounds at the end of December 2021.