Banks operating in Egypt showed significant growth

In its latest data release, the Central Bank of Egypt revealed that the combined financial position of banks operating within the Egyptian market, excluding the central bank, rose to LE 17.896 trillion in March, a significant climb from LE 14.2 trillion recorded in December 2023 - an increase of LE 3.695 trillion.

The CBE also shared that the net open foreign currency positions as a percentage of total capital base improved significantly to 5.7 percent in March 2024, from -1.6 percent in December 2023.

It emphasized that banks should ensure their total surplus or deficit in foreign currency positions does not exceed 20 percent of their capital base.

Assets and Liabilities

Banks operating in Egypt’s cash balances recorded at LE 175.964 billion in March, with interbank balances within Egypt totaling LE 3.181 trillion.

Balances with foreign banks reached LE 1.042 trillion.

Lending and discount balances for customers were approximately LE 6.817 trillion, and bank’s securities portfolios and investments in treasury bills stood at LE 5.490 trillion. Other unspecified assets totaled LE 1.189 trillion.

Liabilities included bank capital which stood at around LE 449.610 billion, with reserves at LE 793.803 billion and provisions recorded at LE 448.678 billion.

Domestic interbank obligations reached LE 1.543 trillion, according to the CBE, with foreign interbank obligations recorded at LE 565.696 billion.

Total deposits reached LE 11.425 trillion, with other unspecified liabilities totaling LE 1.828 trillion. Long-term bonds and loans stood at LE 842.209 billion.