Egypt’s bank deposits rise 17.4% in FY2019/20 to record EGP4.7tn

By Amwal Al Ghad English On Jan 30, 2021

The total value of bank deposits recorded 4.7 trillion Egyptian pounds in FY2019/2020 rising by 17.4 percent compared to FY2018/2019, according to the Cabinet.

The cabinet added that household deposits composing 69.4 percent of the total sum.

The Central Agency for Public Mobilization and Statistics (CAPMAS) revealed early in January that the bank deposit balances for the household sector increased by 19.8 percent to reach 3253.4 billion Egyptian pounds in FY2019-20.

In its annual report, the CAPMAS added that individuals contributed by 95.8 percent of the total amount of the bank deposit balances for the household sector.

While the bank deposit balances for the private business sector also increased by 4.7 percent to reach 567.3 billion pounds in 2019-20.

The report added that the bank deposit balances for the public services sector increased by 27.5 percent to reach 511.1 billion pounds in 2019-20 in which the treasury and government administration sector was up by 96.3 percent.