Private sector holds 21.6% of total bank loans in 8M: CBE

The private sector acquired 21.6% of the total loan portfolio at banks operating in the local market at the end of August 2022, in April, according to the Central Bank of Egypt (CBE). The loans are in in both local and foreign currencies.

In a recent report on the performance of locally operating banks, the CBE indicated that the the private sector loans portfolio stands at EGP1.378 trillion by the end of August 2022, compared to EGP1.137 trillion at the end of December 2021 with an increase of EGP240.6 billion.

The CBE pointed out that the total loans in local currencies increased in monthly basis to EGP 1.132 trillion with an increase of 1.19% or EGP13.4 billion.

It also added that the total loans in foreign currencies jumped to 19.20 amounting to EGP 231.9 billion at the end of August 2022, compared to EGP 194.5 billion at the end of 2021 with an increase of EGP 37.4 billion.

Moreover, total loans provided by banks (other than the Central Bank) increased by 17.69%, to record EGP3.689 trillion at the end of August 2022, compared to EGP3.032 trillion at the end of December 2021, with an increase of EP536.45 billion.