Egypt After 2025: Navigating a Critical Inflection Point    Spot Gold, futures slips on Thursday, July 17th    Egypt's EHA, Huawei discuss enhanced digital health    Egypt expresses condolences to Iraq over fire tragedy    Egypt, Oman discuss environmental cooperation    Egypt's Environment Minister attends AMCEN conference in Nairobi    At London 'Egypt Day', Finance Minister outlines pro-investment policies    Sukari Gold Mine showcases successful public–private partnership: Minister of Petroleum    Egypt's FRA chief vows to reform business environment to boost investor confidence    Egyptian, Belarusian officials discuss drug registration, market access    Syria says it will defend its territory after Israeli strikes in Suwayda    Pakistan names Qatari royal as brand ambassador after 'Killer Mountain' climb    Health Ministry denies claims of meningitis-related deaths among siblings    Sri Lanka's expat remittances up in June '25    EU–US trade talks enter 'decisive phase', German politician says    Egypt's Health Min. discusses drug localisation with Sandoz    Needle-spiking attacks in France prompt government warning, public fear    Foreign, housing ministers discuss Egypt's role in African development push    Korea Culture Week in Egypt to blend K-Pop with traditional arts    Egypt, France FMs review Gaza ceasefire efforts, reconstruction    CIB finances Giza Pyramids Sound and Light Show redevelopment with EGP 963m loan    Greco-Roman tombs with hieroglyphic inscriptions discovered in Aswan    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Private sector acquires 61.9% of commercial credit facilities: CBE
The total facilities granted to the government by banks until the end of June rose by EGP 25.619bn to EGP 66.421bn, compared to EGP 40.802bn at the end of June 2014.
Hossam Mounir Published in Daily News Egypt on 28 - 09 - 2015

The private business sector acquired 61.9% of the total commercial credit facilities balance granted by banks until the end of June 2015, according to the Central Bank of Egypt (CBE).
A recent CBE report revealed that the balance of credit facilities granted by banks to various economic sectors jumped by EGP 130.1bn in fiscal year (FY) 2014/2015. It reached EGP 717.999bn at the end of June 2015, against EGP 587.852bn by the end of June 2014, marking a growth rate of 22.1%.
According to the CBE, total credit facilities granted by commercial banks reached EGP 651.578bn at the end of FY 2014/2015, compared to EGP 547.05bn in FY 2013/2014, marking an EGP 104.528bn increase.
The total facilities granted to the government by banks until the end of June rose by EGP 25.619bn to EGP 66.421bn, compared to EGP 40.802bn at the end of June 2014.
"The industry sector alone received about 34.5% of the balances of credit facilities during the last fiscal year, while the services sector received 25.5% of the total of these facilities. The trade sector got 10.3%, while the agriculture sector got only 1.3% of the total credit facilities granted by banks until the end of last June," the CBE reported.
The CBE added that the total credit facilities granted by banks to the industry sector in local and foreign currencies amounted to EGP 224.851bn at the end of June. Of this amount, EGP 134.679bn was in local currency, and the equivalent of EGP 90.172bn was in foreign currencies.
The services sector received approximately EGP 165.927bn of the total of these facilities during FY 2014/2015, according to the CBE. Of this amount, EGP 105.611bn was in local currency, and the equivalent of EGP 60.316bn was in foreign currencies.
The CBE added that the total credit facilities obtained by the trade sector during FY 2014/2015 reached EGP 67.198bn, of which EGP 50.024bn was in local currency, and the equivalent of EGP 17.174bn was in foreign currencies.
The agriculture sector received EGP 8.429bn of these facilities, of which EGP 5.834bn was in local currency, and the equivalent of EGP 2.595bn was in foreign currencies.

Clic here to read the story from its source.