Masress : CBE's assets increase to EGP 2.412trn in November 2021

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CBE's assets increase to EGP 2.412trn in November 2021
According to the CBE's financial position report for November, the bank's balances increased to EGP 312.8bn in November, up from the EGP 289.574bn recorded in June.

Hossam Mounir Published in Daily News Egypt on 01 - 01 - 2022

The total assets of the Central Bank of Egypt (CBE) increased to EGP 2.412trn in November 2021, up from the EGP 2.028trn recorded in June, marking an 18.9% increase.
According to the CBE's financial position report for November, the bank's balances increased to EGP 312.8bn in November, up from the EGP 289.574bn recorded in June.
The bank's share in the capital of international financial institutions also increased from EGP 10.844bn in June to EGP 11.009bn in November.
Additionally, the report revealed that the CBE pumped EGP 242m into the capital of several affiliated companies during the past five months, bringing its total shares up to EGP 22.202bn by the end of November, compared to June's EGP 21.960bn.
Furthermore, the CBE's gold reserves increased to EGP 66.078bn by the end of November, up from the EGP 64.208bn recorded in June, registering a growth rate of 2.9%.
The bank's balances in the International Monetary Fund also increased from June's EGP 9.326bn by a whopping 422.7% to EGP 48.751bn in November.
All in all, the value of the CBE's capital stabilised at EGP 21.6bn by the end of November; while its reserves increased by 41%, reaching EGP 121.611bn, up from June's EGP 86.235bn.

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