Egyptian banking sector's net foreign assets exceed $11bn in September 2021: CBE

Non-governmental deposits in local currency record EGP 4.239trn in September 2021

The net foreign assets of the Egyptian banking system, including the Central Bank of Egypt (CBE), rose to $11.076bn in September 2021, compared to $10.081bn in August 2021.
According to a recent report by CBE, the foreign assets of the banking sector amounted to about $56.962bn in September 2021, compared to $55.366bn in August 2021.
It explained that the total foreign assets of CBE amounted to $39.783bn in September 2021, compared to $39.579bn in August 2021, while the net foreign assets of banks recorded $17.179bn compared to $15.787bn.
Meanwhile, the total foreign liabilities to the banking sector amounted to $45.886bn, compared to about $45.285bn in August 2021.
The foreign liabilities of CBE amounted to $24.884bn in September 2021, compared to $25.074bn in August 2021, while the total foreign liabilities of banks amounted to $21.001bn compared to $20.211bn.
In another matter, CBE said that the total local currency deposits with banks operating in the Egyptian market, other than government deposits, recorded about EGP 4.239trn in September 2021, compared to about EGP 4.153trn in August 2021.
It explained that demand deposits recorded about EGP 637.4bn in September, compared to EGP 615.99bn in August.
The CBE indicated that the public business sector's share of demand deposits amounted to EGP 44.557bn, the private sector EGP 360.302bn, and the household sector EGP 232.89bn in September 2021.
As for time deposits and savings certificates, it amounted to about EGP 3.601trn in September 2021, compared to about EGP 3.537trn in August.
According to the CBE, the public business sector acquired EGP 40.380bn of time deposits and savings certificates, compared to EGP 183.865bn for the private sector, and EGP 3.377trn for the household sector.
In the same context, the Central Bank revealed that the total deposits of the banking sector in foreign currency reached $40.833bn in September 2021, compared to about $40.925bn in August 2021.
Demand deposits amounted to about $9.411bn and time deposits and savings certificates reached $31.422bn.
According to CBE, the public business sector's share of foreign demand deposits amounted to $437.81m, the private business sector $5.509bn, and the household sector $3.468bn.
This comes while the public business sector's share of time deposits and savings certificates in foreign currencies amounted to $1.318bn, $5.529bn for the private business sector, and $24.574bn for the household sector.