Total financial position of banks in Egyptian market increases to EGP 12.780trn in February 2023

The Central Bank of Egypt (CBE) has revealed that the total financial position of banks operating in the local market, other than the CBE, increased by EGP 371bn to about EGP 12.780trn in February 2023, compared to EGP 12.409trn in January 2023.

In its newly issued monthly report, CBE stated that on the assets side, cash balances in banks in February amounted to EGP 85.441bn, and the balances of banks at some of them locally recorded EGP 2.312trn, while their balances in banks abroad amounted to EGP 379.134bn.

He added that the balances of lending and discounting to clients recorded EGP 4.372trn, while the stock portfolio and banks’ investments in treasury bills recorded EGP 4.748trn, and the volume of other assets, which the CBE did not mention in detail, amounted to EGP 882.280bn.

Regarding liabilities, the CBE stated that the bank’s capital amounted to EGP 317.053bn, reserves recorded EGP 455.895bn, while the balance of provisions amounted to EGP 285.496bn.

Banks’ obligations to each other locally amounted to EGP 558.495bn, while their obligations to banks abroad amounted to EGP 419.613bn. The balances of bonds and long-term loans amounted to EGP 548.963bn, and the volume of other liabilities, which the CBE did not mention in detail, amounted to EGP 1.08trn.

In the same context, the CBE revealed that total customer deposits in banks, other than CBE, increased to about EGP 9.138trn in February 2023, compared to about EGP 9.021trn in January 2023, an increase of about EGP 116.9bn.

The CBE said that the value of government deposits in banks amounted to EGP 2.065trn in February, while the volume of non-governmental deposits amounted to EGP 7.072trn.