ICEC

Banks’ investments in Egyptian government securities fall 1.2% in April

Banks in Egypt invested around 642.03 billion Egyptian pounds ($36 billion) in the government securities during April, 1.2 percent down from a month earlier, according to the central bank monthly report.

In March, investments recorded 650 billion pounds.

State-owned banks’ investments in the government treasury bills reached nearly 326.59 billion pounds in April.

Investments of private-sector and specialised banks registered 271.97 billion pounds and 12.67 billion pounds, respectively.

Foreign banks operating in Egypt had made investments in T-bills worth around 30.8 billion pounds during April, the report added.

Existing balances of treasury bills slightly rose by 0.07 percent to reach 1.213 trillion pounds at the end of April.

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