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Egypt records EGP 1.12-trillion-increase in volume of domestic liquidity in banking sector over 9 months: CBE - Daily News Egypt

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Egypt records EGP 1.12-trillion-increase in volume of domestic liquidity in banking sector over 9 months: CBE

Total non-governmental deposits in local currency with banks amounted to about EGP 5.253 trillion


The volume of domestic liquidity in the Egyptian banking sector rose to EGP 6.949 trillion at the end of September 2022, compared to EGP 5.822 trillion at the end of December 2021 — an increase of about EGP 1.12 trillion — according to a recent report released by the Central Bank of Egypt (CBE).

The CBE revealed that the country’s money supply recorded EGP 1.685 trillion at the end of September 2022, compared to December 2021’s EGP 1.382 trillion. Meanwhile, cash in circulation outside the banking system amounted to EGP 797.231bn, compared to EGP 701.882bn, and quasi-money recorded EGP 5.264 trillion.

In the same context, the CBE said that total non-governmental deposits in local currency with banks amounted to about EGP 5.253 trillion, compared to about EGP 4.469 trillion — an increase of about EGP 784bn.

The bank also noted that demand deposits in local currency recorded EGP 887.957bn, compared to EGP 680.464bn, pointing out that the public business sector accounts for EGP 58.076bn of those deposits, the private sector EGP 572.9bn, and the household sector EGP 257.159bn.

It added that the value of time deposits and savings certificates amounted to about EGP 4.365 trillion, compared to EGP 3.789 trillion, and the public business sector’s share amounted to EGP 55.799bn, the private sector EGP 272.682bn, and the household sector EGP 4.037trn.

Furthermore, the report revealed that the total non-governmental deposits in foreign currencies with banks increased to the equivalent of about EGP 898.572bn, compared to about EGP 650.82bn.

It explained that demand deposits in foreign currencies amounted to the equivalent of EGP 245.167bn, while the volume of time deposits and savings certificates reached EGP 653.405bn.

According to the CBE, the value of demand deposits in foreign currencies for the public business sector amounted to the equivalent of about EGP 15.670bn, the private business sector EGP 157.098bn, and the household sector EGP 72.506bn.

In contrast, the volume of public business sector time deposits and savings certificates in foreign currencies amounted to the equivalent of about EGP 38.115bn, private business sector deposits EGP 136.01bn, and the household sector about EGP 479.2bn.

Topics: CBE

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https://dailynewsegypt.com/2022/11/02/egypt-records-egp-1-12-trillion-increase-in-volume-of-domestic-liquidity-in-banking-sector-over-9-months-cbe/
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