The Central Bank of Egypt (CBE) reported that the domestic liquidity in the Egyptian banking sector rose by EGP 112bn to EGP 8.989trn in January 2024, up from EGP 8.877trn in December 2023.
According to a report issued by the CBE, the money supply also increased from EGP 2.370trn in December 2023 to EGP 2.441trn in January 2024, while the cash outside the banking system grew from EGP 1.068trn to EGP 1.082trn.
The report showed that the total non-governmental deposits in local currency in banks grew by EGP 120bn to EGP 6.367trn in January 2024, compared to EGP 6.247trn in December 2023.
The CBE said that the demand deposits in local currency amounted to EGP 1.358trn in January 2024, up from EGP 1.301trn in December 2023. The public business sector held EGP 67.640bn of those deposits, the private sector held EGP 890.5bn, and the household sector held EGP 400.3bn.
The CBE added that the time deposits and savings certificates in local currency reached EGP 5.009trn in January 2024, up from EGP 4.946trn in December 2023. The public business sector had EGP 91.948bn of those deposits, the private sector had EGP 334.254bn, and the household sector had EGP 4.582trn.
The report also indicated that the total non-governmental deposits in foreign currencies in banks decreased slightly from EGP 1.561trn in December 2023 to EGP 1.539trn in January 2024.
The CBE explained that the demand deposits in foreign currencies amounted to EGP 381.2bn in January 2024, while the time deposits and savings certificates amounted to EGP 1.157trn.
It stated that the public business sector had EGP 14.226bn of demand deposits in foreign currencies, the private business sector had EGP 259.710bn, and the household sector had EGP 107.438bn.
The CBE also said that the public business sector had EGP 76.746bn of time deposits and savings certificates in foreign currencies, the private business sector had EGP 258.131bn, and the household sector had EGP 822.956bn.
