CBE reports total financial position of banks operating in the local market at LE 13.79tn

In a recent report by the Central Bank of Egypt (CBE), the total financial position of banks operating in the local market for the first half of 2023 has been estimated at around LE 13.798 trillion. This includes the collective capital of these banks amounting to LE 323.776 billion, reserves of LE 492.386 billion, and provisions of LE 305.455 billion. The collective cash balances of these banks were reported at around LE 106.241 billion in June 2023. The local and foreign banks had balances of LE 2.326 trillion and LE 308.623 billion, respectively. The banks' customer lending and debit balances reported at LE 4.798 trillion. The securities portfolio and bank investments in treasury bills were quoted at LE 4.855 trillion. Obligations between local banks were LE 575.767 billion, while obligations with banks outside Egypt amounted to LE 450.686 billion. The total deposits in these banks rose to LE 9.450 trillion in H1 2023 with the ten largest banks holding a collective LE 7.385 trillion of the total deposits. The top 5 banks recorded LE 6.470 trillion. The loan-to-deposit ratio in banks operating in this market jumped to 50.9 percent in June 2023, compared to 48.9 percent in March 2023. The private sector held 53.6 percent of the total loans granted by these banks to customers in June 2023.