Bank deposits rose to $234.2 billion in May: Egypt’s central bank

Big 5

Total deposits in Egypt’s banks have surged in May by 65 billion Egyptian pounds to record 2.079 trillion pounds ($234.2 billion), the central bank announced Thursday.

In April, total deposits stood at 2.014 trillion pounds.

Government deposits also rose to 350.859 billion pounds by end of May, including 253.277 billion pounds in local currency and around 97.582 billion pounds in foreign currencies, the central bank report showed.

Non-governmental deposits grew to 1.728 trillion pounds by end of May, up from 1.697 trillion pounds a month earlier.

Local currency non-governmental deposits reached 1.405 trillion in local currency; while deposits in foreign currencies recorded 323.338 billion pounds.