Egypt scraps parliamentary election results in 19 districts over violations    Egypt's public prosecution hands over seized gold worth $34m to central bank    Finance ministry pushes trade facilitation with ACI rollout for air freight    Abdelatty stresses Egypt's commitment to peaceful conflict resolution    Deep Palestinian divide after UN Security Council backs US ceasefire plan for Gaza    Health minister warns Africa faces 'critical moment' as development aid plunges    Egypt's drug authority discusses market stability with global pharma firms    SCZONE chair launches investment promotion tour in France    Egypt extends Ramses II Tokyo Exhibition as it draws 350k visitors to date    Egypt, Germany launch government talks in berlin to boost economic ties    Egypt signs host agreement for Barcelona Convention COP24 in December    Egypt's FRA Sandbox signs 3 tech partnerships to boost cybersecurity, innovation    Gold prices fall on Tuesday    Regional diplomacy intensifies as Gaza humanitarian crisis deepens    Egypt's childhood council discusses national nursery survey results    Al-Sisi urges probe into election events, says vote could be cancelled if necessary    Filmmakers, experts to discuss teen mental health at Cairo festival panel    Cairo International Film Festival to premiere 'Malaga Alley,' honour Khaled El Nabawy    Cairo hosts African Union's 5th Awareness Week on Post-Conflict Reconstruction on 19 Nov.    Egypt golf team reclaims Arab standing with silver; Omar Hisham Talaat congratulates team    Egypt launches National Strategy for Rare Diseases at PHDC'25    Egypt's Al-Sisi ratifies new criminal procedures law after parliament amends it    Egypt adds trachoma elimination to health success track record: WHO    Egypt, Sudan, UN convene to ramp up humanitarian aid in Sudan    Grand Egyptian Museum welcomes over 12,000 visitors on seventh day    Sisi meets Russian security chief to discuss Gaza ceasefire, trade, nuclear projects    Grand Egyptian Museum attracts 18k visitors on first public opening day    'Royalty on the Nile': Grand Ball of Monte-Carlo comes to Cairo    Egypt launches Red Sea Open to boost tourism, international profile    Omar Hisham Talaat: Media partnership with 'On Sports' key to promoting Egyptian golf tourism    Sisi expands national support fund to include diplomats who died on duty    Egypt's PM reviews efforts to remove Nile River encroachments    Egypt will never relinquish historical Nile water rights, PM says    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    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.



More than EGP 39bn increase in volume of deposits in July: CBE
Banks support their allocations to meet doubtful loans and reduce its investments in security
Hossam Mounir Published in Daily News Egypt on 17 - 10 - 2015

Central Bank of Egypt (CBE) revealed last week several important indicators on the performance of banks operating in the domestic market during July.
The most important of these indicators, according to a recent CBE report, is the success of the Egyptian banking sector to attract deposits amounting to EGP 39.38bn during July reaching EGP 1.779tr, compared with EGP 1.74tr in June.
Deposits in local currency increased by about EGP 24.5bn to reach EGP 1.399tr in July, compared to EGP 1.375tr in June. In foreign currency, deposits rose by EGP 14.85bn to reach EGP 369.64bn, compared to EGP 364.7bn.
According to CBE, total deposits in banks during July increased by about 18.5%, where there was an increase by 19.5% in local currency and 14.1% in foreign currency.
Non-governmental deposits rose during July by about EGP 20.11bn to reach EGP 1.508tr, compared with EGP 1.488tr in June.
Non-governmental deposits in local currency increased by about EGP 10bn to reach EGP 1.229tr, compared to EGP 1.219tr in June. Non-governmental deposits in foreign currency rose by EGP 10.26bn to reach EGP 278.288bn in July, compared to EGP 268.02bn in June.
Government deposits in banks increased during July by about EGP 19.27bn to reach EGP 271.4bn, compared to EGP 252.15bn in the previous month.
According to CBE, the household sector raised its deposits in local currency at banks by around EGP 16.69bn in July, to reach EGP 959.03bn, compared to EGP 942.33bn in June.
Household sector accounts for about 75.9% of total deposits in banks, about 78.6% of deposits in local currency, and about 63.5% of foreign currency deposits.
CBE figures also revealed a rise in the volume of loans during July by about EGP 8.2bn, to reach EGP 721.8bn, compared to EGP 713.6bn in June.
Private business sector accounts for 61.9% of the total credit facilities granted by banks to non-government bodies in July. And the industry sector alone acquires about 34.4% of those facilities, followed by the services sector by about 25.5% and the trade sector by about 10.4%.
The agriculture sector accounts for only 1.3% of credit facilities. Other sectors, including the household sector, accounted for 28.4% of the total of the facilities.
CBE also stated that non-governmental loans increased by 0.6 percent to reach EGP 651.5bn in July, versus EGP 647.2bn at the end of June.
As for loans in foreign currency, the report indicated they increased by EGP 9.4bn in July, to reach EGP 247.5bn, compared to about EGP 238bn in June. In contrast, loans in local currency fell by EGP 1.2bn to EGP 474.2bn, compared to EGP 475.4bn in June.
According to CBE, loans from banks to the government increased by EGP 3.8bn during July to reach EGP 70.3bn, compared to EGP 66.4bn in June.
As another indicator of the performance of banks during July, CBE figures revealed that private banks increased their investment in treasury bills by EGP 1bn to reach 186.7bn. Foreign banks operating in the domestic market also increased their investment in bills by EGP 1.1bn to reach EGP 23.7bn.
In return, specialised banks reduced their investment in bills by EGP 505m to EGP 3.8bn, and banks specialised in bills reduced their investment by 0.16% to reach EGP 207.5bn.
Security portfolio at banks declined for the first time since the beginning of 2015, to reach EGP 1.015tr by the end of July, compared to EGP 1.016tr by the end of June.
CBE revealed that the banks supported the non-performing loans by EGP 309m in July, to boost this support to EGP 66.358bn, compared to EGP 66.049bn by the end of June.
According to the latest figures issued by CBE, the ratio of non-performing loans at banks is estimated at 8.3% by the end of March, where the coverage ratio of such loans is of 98.3%.

Clic here to read the story from its source.