Net domestic assets of banks in Egypt hikes LE 910.5B in 6 months

CAIRO - 20 March 2023: The Central Bank of Egypt (CBE) said that the net domestic assets of the Egyptian banking sector rose by about LE 910.5 billion, or by 13 percent, during the period from July to December 2022.

 

This is as a result of an increase in domestic credit by about LE 859.6 billion, at a rate of 12.7 percent, and net budget items by about LE 50.9 billion.

 

In its monthly report issued, Monday, the CBE stated that domestic credit increased as a result of an increase in net liabilities from the government by LE 600.6 billion, and liabilities from the private business sector by LE 179 billion.

 

It added that the liabilities from the family sector by about LE 7.5 billion, and from the public business sector by LE 4.5 billion.

 

On the other hand, the CBE revealed a decrease in the net foreign assets of the banking system, equivalent to LE 122.2 billion, during the same period.

 

It added that this decrease came as a result of a decline in net foreign assets, equivalent to LE 69.9 billion, and a decrease in net foreign assets in banks, equivalent to LE 52.3 billion.