CAIRO – 25 November 2018: Banks’ deposits marked an increase of LE 527 billion in fiscal year 2017/2018, recording about LE 3.569 trillion ($199.18 billion) by the end of June 2018, compared to LE 3.042 trillion in June 2017, according to the Central Bank of Egypt (CBE).
CBE’s recent report showed that banks’ loans rose to LE 1.53 trillion by the end of March 2018, compared to 1.45 trillion by the end of December 2017, with an increase of LE 8 billion.
The loan to deposit ratio in the Egyptian banking system is currently recording an average of 45 percent and CBE targets to reach 65 percent during 2018.
CBE said earlier that banks’ deposits marked an increase of LE 1.2 trillion in 18 months, recording about LE 3.33 trillion in December 2017, compared to LE 2.12 trillion in June 2016.
Previously, Governor of CBE, TarekAmer, said that 17 million citizens, around 32 percent of eligible voters, deal with banks and post offices.
The Egyptian economic reform program contributed by deposits of LE 200 billion to banks operating in the Egyptian market, Amer added.
CAIRO - 29 May 2018: Banks' deposits marked an increase of LE 1.2 trillion in 18 months, recording about LE 3.33 trillion ($185.83 billion) in December 2017, compared to LE 2.12 trillion in June 2016, according to the Central Bank of Egypt.