CBE: Bank Assets jump by 31.90%, recording EGP 18.7tn during 5M- 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 EGP 14.20tn at the end of 2023, to EGP 18.73tn by the end of May 2024, growing by a rate of 31.90%, and an increase of EGP 4.53 tn.

Securities and investment portfolio increased to EGP 5.228tn at the end of May 2024, compared to EGP 5.183tn at the end of 2023, with a growth rate of  0.87% and an increase of EGP 45bn.

Lending and discount balances for customers increased to EGP 7.01 tn at the end of May 2024, compared to EGP 5.46 tn at the end of 2023, with a growth rate of 28.42% and an increase of EGP 1.55tn during the first 5 months of 2024.

Banks' capital rose to EGP 450.211 bn at the end of May 2024, compared to EGP 410.877 bn at the end of 2023, with a growth rate of 9.57% and an increase of EGP 39.3 bn during the first 5 months of the current year.

Total Deposits jumped by 16.50% to reach EGP 11.84tn at the end of May 2024, compared to EGP 10.16 tn at the end of 2023, with an increase of EGP 1.68 tn.

Reserves increased by 69.16% to reach EGP 805.99 bn at the end of May 2024, compared to EGP 476.47 bn at the end of 2023, with an increase of EGP 329.52 bn.