IMF board agrees to disburse final $2 billion tranche of Egypt standby loan    Egypt sees 9.18 % decrease in manufacturing, extractive index in April 2021: CAPMAS    Egypt's FA to request rescheduling of CAF Champions League final    UPDATED: Flying to Egypt? Here are the newest guidelines you need to know before taking off    Egypt expects to sign Ever Given settlement next week – official    Tennis: Australia's Purcell upsets top-seeded Monfils in Eastbourne    Expert: Transgender Olympic athlete could polarize opinion    MEP questions Washington's logic of hyping up China threat for military expansion    Russia in showdown with UN and West over aid to Syria    'Scary' Sydney virus cluster blamed on delta variant grows    Merkel: Europe 'on thin ice' amid delta virus variant rise    Egypt's delay in including Mo Salah, Mostafa Mohamed at Tokyo Olympics raises concern    Net profits of banks in Egypt reach EGP 29.99bn in Q1 2021: CBE    Euro 2020 brings back long-forgotten memories of glory for qualifying teams    Manchester City's Riyad Mahrez gets engaged to British model Taylor Ward    In Video: Egypt recovers 114 ancient artefacts smuggled into France    Egypt's Health Minister reviews precautionary measures during Cairo Book Fair    Sudan calls on UN Security Council to intervene in GERD dispute    Egypt's Environment Minister launches 3rd phase of project monitoring Fayoum natural resources    Egypt's FM discusses bilateral relations with German counterpart    IMF approves final tranche of Egypt's SBA loan programme    Egypt's Senate commences fulfilling its obligations under clear jurisdictions: Ahmed Diab    Ottawa University holds lecture on determinants of Egypt's national security    Egypt extends 'Kings of the Sun' exhibition in Prague until 30 September    Egypt's CBE extends its preventive measures against pandemic's negative impacts through end of 2021    Berlin's conference on Libya sees hope on elections, foreign forces    0.6% of Africa's adults have been vaccinated so far: IMF's Georgieva    JICA Senior Vice President visits Egypt-Japan School in Borg El Arab 1    Biden faces growing pressure from the left over voting bill    Don't miss Romeo and Juliet ballet shows at the Cairo Opera House    Arab history at the Institute    The second filling    Egypt opens its first anaerobic gasification unit    Egypt keen on negotiation leading to binding deal on GERD, irrigation minister tells S.Sudan's officials    Berlin II Conference calls for immediate withdrawal of foreign mercenaries from Libya    HSBC earmarks funding to a coastal ecosystem restoration project in Egypt    Egypt puts final touches to Dubai Expo 2020 participation    Egypt accuses Ethiopia of using GERD crisis for political purposes    Egypt's Water Resources Minister in South Sudan for cooperation talks    Rotterdam Film Festival closes extended, hybrid 50th edition    APO Group enters new exclusive agreement with Getty Images on African press releases and images    Egypt is on short list of partner countries for U.S. COVID-19 vaccines: embassy    Russia to resume charter flights to Egypt resorts in the coming days    Egypt's Sisi announces allocation of $500 million for reconstruction in war-wrecked Gaza    On International Museum Day, Egypt opens two new museums at Cairo Airport    Egypt's Ahly is establishing a new stadium, expected to be 'sports complex'    Old Cairo's Al-Fustat will be revamped on Egyptian President's directives    Veteran Egyptian journalist Makram Mohamed Ahmed passes away at 86    

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

Egypt banks see EGP 62bn increase in local currency deposits in May
NFA surplus with banks, CBE records about $5.3bn increase
Published in Daily News Egypt on 06 - 07 - 2020

The Central Bank of Egypt (CBE) has announced that the volume of local currency deposits at banks operating in Egypt increased by about $62bn to about EGP 3.192trn in May, compared to about EGP 3.13trn in April.
A recent CBE report noted that demand deposits in the local currency recorded EGP 488.87bn in May, up from EGP 474.79bn in April, an increase of EGP 14.2bn.
Non-current deposits, or time and saving deposits, in the local currency, rose by EGP 47.8bn during May, to reach EGP 2.703trn, compared to EGP 2.655trn in April.
The CBE explained that household sector's local currency deposits amounted to EGP 2.714trn in May, compared to EGP 2.664trn in April, an increase of about EGP 50bn.
Private sector deposits amounted to EGP 413.5bn in May, compared to EGP 401.37bn in April, an increase of EGP 12.1bn. Public sector deposits in the local currency also increased to EGP 64.59bn from EGP 64.44bn.
In the same context, the CBE revealed that US dollar deposits inched up to about $41.06bn in May, compared to $40.7bn in April, a growth of about $360m.
The CBE data also showed that foreign currency deposits by the household sector recorded about $28.22bn in May, up from $28.09bn in April, an increase of $130m.
Private sector deposits in foreign currencies increased by about $193m, to reach $10.7bn at the end of May, compared to $10.5bn in April. Public sector deposits recorded about $2.14bn, up from $2.087bn in April, an increase of $27m.
Demand deposits in foreign currencies recorded $8.57bn in May, while non-current deposits, or time and saving deposits, reached about $32.49bn.
The CBE revealed that the surplus of net foreign assets (NFA) at banks and the CBE rose further during May, to record an increase of about $5.3bn. This comes following a decline during the months of March and April, amounting to $21.6bn.
According to the report, the NFA surplus reached about $8.33bn in May, compared to $3.04bn in April.
The CBE stated that the total foreign currency assets recorded $54.68bn in May, compared to $49.45bn in April, an increase of $5.2bn. The foreign currency liabilities witnessed relative stability, recording $45.35bn in May, down from $46.41bn in April.

Clic here to read the story from its source.