Financial position of banks in Egypt increases to EGP 7.3trn in February: CBE

Foreign investments in Egypt's T-bills amount to EGP 313.68bn in March 2021

The total financial position of banks working in the Egyptian market recorded about EGP 7.347trn in February 2021, compared to EGP 7.158trn in January 2021.
A report by the Central Bank of Egypt (CBE), on Monday, revealed that the capital at banks in Egypt reached a total of EGP 174.73bn.
Bank deposits, other than those at the CBE, recorded about EGP 5.374trn in February 2021, compared to EGP 5.282trn in January.
The CBE revealed that government deposits recorded EGP 945.803bn, of which EGP 820.7bn was in local currency, whilst EGP 125.07bn was in foreign currencies.
Non-governmental deposits recorded about EGP 4.428trn in February 2021, of which EGP 3.772trn was in local currency and EGP 655.9bn in foreign currencies.
The CBE said that the volume of credit facilities granted by banks operating in the local market to their customers reached about EGP 2.573trn in February 2021.
It pointed to an increase in the volume of these facilities by EGP 372.6bn within eight months, reflecting a growth rate of 16.9%.
The CBE attributed this rise to an EGP 207.9bn increase in the volume of credit facilities granted by banks to the government, at a rate of 30.9%. It was also driven by an EGP 164.7bn increase in the volume of facilities granted to non-government entities, at a rate of 10.8%.
It explained that the increase in the funds granted to non-government entities came as a result of the increase in the volume of facilities in local currency, at a value of EGP 200.5bn. It was also due to an increase in the facilities in foreign currencies, equivalent to EGP 7.4bn.
Credit facilities refer to the loans granted by banks to their clients, in addition to documentary credits and letters of guarantee opened for them to cover import operations.
The CBE explained that the private business sector obtained about 59.2% of the total non-governmental credit facilities granted by banks to various economic sectors.
It pointed out that the industrial sector received the most financing from banks, obtaining about 30.6% of the total facilities, followed by the services sector, which acquired 25%, and the trade sector with 10.7%.
The agricultural sector, as usual, obtained the lowest percentage of the volume of credit facilities granted by banks to the various economic sectors. This sector acquired only 2% of the volume of these facilities until the end of January 2021.
According to the CBE, there are other sectors, not mentioned in detail, foremost of which is the household sector, which received about 31.7% of the volume of these facilities.
Foreign clients' investments in Treasury bills (T-bills) amounted to EGP 313.680bn in March 2021, compared to EGP 316.448bn in February 2021.
Private sector bank investments recorded about EGP 349.927bn in March, compared to EGP 349.596bn in February.
The CBE's report also revealed that the investments of public sector banks amounted to EGP 327.72bn in March 2021, compared to EGP 292.478bn in February.
The investments made by foreign bank branches in T-bills amounted to EGP 50.376bn in March, compared to EGP 43.176bn in February.
The investments of specialised banks recorded about EGP 32.337bn in March 2021, compared to EGP 30.928bn in February 2021.