Masress : CBE reveals February 2020 data for banks operating in Egypt

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CBE reveals February 2020 data for banks operating in Egypt
Financial position of banks operating in local market touches EGP 6trn, deposits and loans rise

Hossam Mounir Published in Daily News Egypt on 09 - 05 - 2020

The Central Bank of Egypt (CBE) has revealed that the total financial position of banks operating in Egypt increased to EGP 5.985trn at the end of February 2020. The February figures illustrate a slight increase on the EGP 5.830trn reported at the end of January 2020.
The figures were released as part of the CBE's monthly report on the performance indicators of banks in Egypt and the local economy.
The CBE added that the total capital of banks amounted to EGP 155.28bn by the end of February 2020, while the reserves amounted to about EGP 257.7bn. The size of the allocations they made to face bad debts amounted to about EGP 126.9bn.
In its report, the CBE indicated that the volume of deposits at banks recorded an increase of EGP 60.158bn during February 2020, to reach EGP 4.306tn up from EGP 4.246tn in January.
The volume of government deposits amounted to EGP 620.628bn in February, compared to EGP 602.373bn, marking an increase of EGP 18.255bn.
Government local currency deposits increased by EGP 19.586bn to EGP 546.491bn in February, compared to EGP 526.905bn in January. Government foreign currency deposits decreased by EGP 1.331bn to record EGP 74.137bn, compared to EGP 75.468bn.
Non-governmental deposits recorded an increase of EGP 41.903bn to reach EGP 3.685trn in February, compared to EGP 3.643tn in January.
Non-governmental deposits in the local currency increased by EGP 51.4061bn to reach EGP 3.051055trn in February, compared to EGP 2.996489trn in January. Non-governmental deposits in foreign currencies amounted to EGP 634.764bn compared to EGP 647.427bn, with a decrease of EGP 3.663bn.
At the same time, the CBE revealed that the total loans from banks to customers increased to EGP 1.892trn at the end of February 2020. This compared to EGP 1.866trn in total loans at the end of January 2020, an increase of EGP 26bn.
The volume of loans granted to the government reached EGP 519bn, of which EGP 288.3bn were in local currency and EGP 230.8bn in foreign currencies.
The total non-governmental loans increased to EGP 1.373trn, of which about EGP 1.116trn in the local currency and the equivalent of about EGP 256.732bn in foreign currencies.
In the same context, the CBE revealed that bank investments in securities and treasury bills reached about EGP 2.201trn by the end of February 2020, compared to EGP 2.189trn at the end of January 2020.

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