The Central Bank of Egypt (CBE) has revealed that the total financial position of banks operating in the local market increased by about EGP 1.973trn to EGP 12.01trn in November 2022, compared to about EGP 10.037trn in June 2022.
The CBE stated, in its monthly report, that on the assets side, cash balances in banks in November 2022 amounted to about EGP 76.658bn, and the balances of banks with some of them at home recorded about EGP 2.135trn, while their balances with banks abroad amounted to about EGP 278.345bn.
The balances of lending and discounting to customers recorded about EGP 3.966trn, while the stock portfolio and bank investments in treasury bills recorded EGP 4.186trn, and the volume of other assets, which the CBE did not mention in detail, amounted to about EGP 1.367trn.
Regarding liabilities, the CBE stated that the bank’s capital amounted to EGP 296.114bn, and the reserves recorded EGP 438,793bn, while the provisions amounted to EGP 248.635bn.
The interbank liabilities in Egypt recorded EGP 433.403bn, while the sector’s net foreign liabilities recorded EGP 324.912bn. The bonds and long-term loans amounted to EGP 431.627bn, and the volume of other liabilities, which the CBE did not mention in detail, amounted to EGP 1.480trn.
In the same context, the monthly bulletin of the CBE revealed that the volume of customer deposits in banks operating in the Egyptian market increased to EGP 8.373trn in November 2022, compared to EGP 8.171trn in October, an increase of EGP 201.441bn.
The CBE said that the growth rate in total deposits in banks reached about 28.99% during November 2022, compared to 28.57% in October, pointing out that the growth rate in deposits in local currency recorded 21.8% compared to 21.9%, while the growth rate of deposits in foreign currencies recorded 77.3%, compared to 72.7%.
The CBE explained that the family sector accounted for 78.1% of the total deposits in banks operating in the Egyptian market in November 2022.
According to the CBE, the household sector accounted for about 81.9% of total deposits in local currency, amounting to EGP 4.378trn, while its share of deposits in foreign currencies amounted to about 60.3%, amounting to about EGP 699.912bn.
It indicated that the share of deposits in foreign currencies increased to 17.85% of total deposits in banks in November 2022, compared to 17.59% in October.
On the employment side, the CBE revealed an increase in the balances of credit facilities granted by banks to their clients in November 2022 to about EGP 3.966trn, an increase of EGP 401.5bn from the end of June 2022.
Credit facilities mean loans granted by banks to their customers, in addition to documentary credits and letters of guarantee that are opened to them to cover import operations.
The CBE attributed this increase to the increase in the balances of credit facilities granted by banks to non-government by EGP 208bn, at a rate of 9.4%, and the balances of credit facilities granted to the government by EGP 193.5bn, at a rate of 14.3%.
The increase in the balances granted to the government came as a result of the increase in the balances in foreign currencies by the equivalent of EGP 178.2bn, and the balances in the local currency by EGP 15.3bn.
It added that according to the relative distribution of non-governmental credit facilities balances, the private business sector obtained 61.9% of the total of those balances in August.
According to the sectors of economic activity, the industrial sector got 28.3% of those balances, followed by the service sector with 27.3%, then the trade sector with 10.4%, the agricultural sector with 2.4%, and the undistributed sectors with 31.6%. 31.5% for the household sector.
Moreover, the CBE said that the net domestic assets of the Egyptian banking sector increased by about EGP 872bn, or by 12.5%, during the period from July to November 2022, as a result of an increase in domestic credit by about EGP 686.2bn, at a rate of 10.2%, and net budget items by about EGP 185.8bn.
The CBE explained that domestic credit increased as a result of an increase in net liabilities from the government by EGP 456.4bn, liabilities from the private business sector by EGP 163.2bn, and from the family sector by about EGP 64.1bn, and from the public business sector by EGP 2.5bn.
On the other hand, the CBE revealed a decrease in the net foreign assets of the banking system by EGP 169.5bn during the same period, pointing out that this decrease came as a result of a decline in its net foreign assets by the equivalent of EGP 55.1bn, and a decrease in the net foreign assets of banks by EGP 114.4bn.
