Total cash balance in banks amounted to about EGP 64.659 billion, while the balances of banks locally amounted to EGP 1.406 trillion
The total financial position of banks operating in the local market reached EGP 8,758 trillion in October 2021, explained the Central bank of Egypt (CBE) in its recent monthly report, up from EGP 8,484 trillion in September 2021.
In terms of assets, the total cash balance in banks amounted to about EGP 64.659 billion, while the balances of banks locally amounted to EGP 1.406 trillion, and their balances abroad amounted to EGP 221.108 billion.
The central bank noted that lending and discount balances to clients recorded EGP 2.996 trillion. Stock portfolio and banks’ investments in treasury bills recorded EGP 3.052 trillion and other assets that the CBE did not mention were valued at EGP 1.017 trillion.
Banks’ capital, regarding liabilities, were recorded at around EGP 201.77 billion, with reserves at EGP 354.882 billion and the balance of provisions were around EGP 183.930 billion.
Bank obligations towards other banks operating in Egypt was noted as around EGP 352.038 billion, while obligations to banks operating outside the country were EGP 125.159 billion.
The total deposits amounted to about EGP 6.175 trillion, while the balances of bonds and long-term loans amounted to EGP 239.803billion. Other liabilities the CBE did not mention were valued at EGP 1.125 trillion.
The CBE explained that customer deposits to banks increased to EGP 6.191 trillion in October 2021, compared to September’s EGP 6.077 trillion, an increase of about EGP 114.1 billion.
Total deposits in banks saw a growth rate of 18.22% during October 2021, compared to 17.71% in September, with the CBE pointing out that the growth rate in deposits in local currency recorded 21.5% compared to 21%, while the growth rate of deposits in foreign currencies was 0.5%, compared to -0.3%.
Deposits in foreign currencies decreased to 13.10% of the total deposits in banks in October 2021, compared to 13.17% in September.
Also, the volume of government deposits in banks reached EGP 1.2 trillion, compared to the EGP 1.166 trillion recorded in September 2021.
Government deposits were divided into local currency deposits amounting to EGP 1.059 trillion and the equivalent of about EGP 141.182 billion in foreign currencies.
According to the CBE, non-governmental deposits recorded EGP 4.990 trillion in October 2021, compared to the previous month’s EGP 4.910 trillion, including deposits in local currency worth EGP 4.324 trillion and foreign currency deposits equivalent to EGP 665.370 billion.
The CBE added that the household sector accounted for 82.7% of total deposits in banks until the end of October 2021.
According to the CBE, the household sector accounted for about 85% of the total deposits in local currency, amounting to about EGP 3.660 trillion, while its share of deposits in foreign currencies amounted to about 67.7%, which is EGP 439.435 billion.
