Egypt’s central bank achieves LE 107.7B in net profits by October 2024

The Central Bank of Egypt (CBE) announced net profits of LE 107.693 billion by the end of October 2024, marking an increase from LE 96.056 billion recorded at the end of September.  

According to the CBE’s monthly financial statement, the bank’s reserves reached LE 403.147 billion, while its capital stood at LE 21.600 billion as of October 2024.  

The statement further indicated that total equity rose to LE 162.413 billion, compared to LE 150.667 billion in September. Meanwhile, total liabilities increased to LE 6.050 trillion, up from LE 5.940 trillion in the previous month.  

The CBE’s total assets climbed to LE 6.213 trillion by the end of October, compared to LE 6.090 trillion at the end of September.  

In addition, the bank reported contributions to the capital of international financial institutions amounting to LE 26.210 billion, while its investments in the capital of subsidiary and sister companies totaled LE 79.099 billion.  

The CBE also reported an increase in its gold holdings, which grew to LE 545.310 billion in October 2024, compared to LE 517.147 billion in September. This growth reflects the bank’s ongoing efforts to strengthen its financial position.