Private sector holds 61.7% of total bank loans in April: CBE

Total deposits see 14.33% growth in April, compared to 13.9% in March; foreign currencies share fell to 17.01%

The private sector acquired 61.7% of the total loan portfolio at banks operating in the local market in April, according to the Central Bank of Egypt (CBE).
In a recent report on the performance of locally operating banks, the CBE indicated that the total bank loans increased by EGP 93bn during April to reach EGP 2.093trn. This is compared to about EGP 2trn reported in March.
It added that the bank loans granted to the government amounted to EGP 639.6bn, including EGP 392.9bn in the local currency. A total of EGP 246.7bn in foreign currencies was granted in loans to the government, while the total non-governmental loans increased to EGP 1.454trn.
The CBE added that the volume of non-governmental loans in the local currency amounted to about EGP 1.196trn. It pointed out that agricultural sector acquired loans worth EGP 26.05bn, industrial activity gained about EGP 333.8bn, commercial activity EGP 139.2bn, and service activity received about EGP 277.9bn.
Other sectors, including household sector, natural persons, non-profit local organisations, and foreign organisations working in Egypt, acquired EGP 419.2bn in loans.
The CBE pointed out that the total loans in foreign currencies amounted to about EGP 257.7bn. Of this amount, the agricultural sector acquired EGP 3.04bn, the industrial sector got EGP 125.9bn, the commercial sector received EGP 15.04bn, and the service sector was granted EGP 99.6bn. Other sectors, including household sector, natural persons, non-profit local organisations, and foreign organisations working in Egypt, acquired EGP 140.03bn in loans.
The CBE added that the household sector accounted for 82.4% of total deposits in banks in April. It noted that deposits at banks in Egypt, regardless the CBE, recorded EGP 4.518trn in April, compared to EGP 4.426trn in March 2020, an increase of EGP 92.4bn.
The CBE report also revealed that the growth rate of total deposits at banks increased to 14.33% in April, compared to 13.9% in March.
It pointed out that the growth rate in local currency deposits increased during April to 22.4%, compared to 22% in March. The growth rate in foreign currency deposits was -13.5% in April, compared to -13.8% in March.
According to the CBE, the share of foreign currencies in total deposits at banks declined to 17.01% in April, compared to 17.14% in March.
Meanwhile, government deposits increased by EGP 50.6bn to EGP 726.3bn in April, from EGP 675.7bn in March, with the share of local currency deposits standing at about EGP 633.9bn, and the foreign currency deposits share recording about EGP 92.3bn.
The CBE pointed out that non-governmental deposits also increased to EGP 3.792tn in April, compared to EGP 3.75trn in March.
The volume of non-governmental deposits in local currency amounted to EGP 3.14trn in April, up from EGP 3.103trn in March. This indicates that the public business sector accounted for about EGP 64.4bn, the private sector about EGP 401.3bn, and the household sector about EGP 2.664trn. Other sectors, including non-resident deposits, accounted for EGP 14bn.
The report pointed out that foreign currency deposits recorded about EGP 649bn in April, compared to EGP 646.6bn in March. The public business sector's share stood at about EGP 33.58bn, the private sector about EGP 165.5bn, and the household sector about EGP 442.4bn, with the remainder of sectors acquiring EGP 7.5bn.