Total deposit balances increased in 2016/2017 to reach EGP 3.027tn, an increase of 43.1%, according to the Central Agency for Public Mobilisation and Statistics (CAPMAS).
The CAPMAS attributed this increase to shares of the household sector and private business sector, as well as to the contribution of the economic measures adopted since January 2016, which increased the capacity of the banking system to attract deposits from the household sector.
The agency said the deposit balance of the household sector reached EGP 1,938tn in 2016/2017, an increase of 46.6%, which is due to the share of natural persons at banks, with that segment holding a share of 94.5% of the total deposit balance of the household sector, that sector accounting for 64% of total bank deposits.
The CAPMAS noted that the deposit balance of the private business sector reached EGP 455.5bn in 2016/2017, an increase of 31.1%, with the organised private business sector accounting for 76% of the total deposit balance of the private business sector, that sector accounting for 15% of total bank deposits.
“Deposit balances in the public services sector reached EGP 384.3bn in 2016/2017, an increase of 40.4%. This increase is due to treasury and administrative government deposits at banks, which account for 97.8% of the total deposit balance of public services sector, that sector accounting for 12.7% of total bank deposits,” the CAPMAS said.
Meanwhile, “surplus banking liquidity reached EGP 1.6tn in 2016/2017, an increase of 36.5%. This increase is due to greater flow of deposits compared to granted credit. Thus, banking liquidity reached 52.8% of total bank deposits,” the agency said.
