Credit facilities for 100 largest bank clients increase to $24.32bln

The Central Bank of Egypt (CBE) has revealed that the credit facilities granted to the largest 100 borrowers in the public and private business sectors amounted to about EGP 603bn in June 2022, with a growth rate of 18.8% compared to June 2021.

In its recent financial stability report, the Central Bank stated that these facilities are concentrated in 17 sectors, with 6 sectors accounting for 74.6%.

According to the CBE, the construction sector came with a rate of 23.7%, then the oil, natural gas and petrochemical sector with a rate of 14.4%, then the real estate development sector with a rate of 10.8%.

In fourth place came the iron and steel sector with a rate of 9.9%, then the non-banking financial sector with a rate of 9.4%, then the communications and information technology sector with a rate of 6.4%.

In a related context, the Central Bank revealed the pumping of EGP 13bn to finance small breeders through banks within the national project to revive veal.