Egypt’s bank deposit balances soar in ’22-’23 – CAPMAS

Total bank deposit rose to 9450.8 billion pounds in 2022-2023, marking a 28.5 per cent increase in 2021–2022. The household and public services sectors contributed most to this surge in deposits, Egypt’s Central Agency for Public Mobilisation and Statistics (CAPMAS) has stated.

Deposit of the household sector grew by 17.0 per cent in 2022-2023 from the previous year to reach 5512.4 billion pounds. Natural persons contributed to 96.5 per cent to the total deposits in this sector, which made up 58.3 per cent of the total bank deposits.

Meanwhile, deposit balances in the private business sector increased by 51.5 per cent from the previous year to reach 1443.5 billion pounds in 2022-2023. The organised private business sector accounted for 76.3 per cent of the total deposit balances in this sector, which constituted 15.3 per cent of all bank deposits.

Deposit balances in the public services sector grew by 43.5 per cent to reach 1525.1 billion pounds in 2022/2023 with the Treasury sector and government administration accounting for 98.3 per cent of these deposits, which constituted 16.1 per cent of all bank deposits.

Credit balances rose to 4802.0 billion pounds in 2022-2023, there will be a 34.5 per cent increase from 2021-2022, largely due to credit given to the public and private business sectors.

The private business sector experienced a 26.9 per cent increase in total credit balances in 2022-2023, reaching 1715.6 billion pounds, primarily driven by credit extended to the organised private business sector, which represented 78.1 per cent of the sector’s total credit and 35.7 per cent of all credit balances.

The public business sector experienced a 53.9 per cent increase in credit balances from the previous year, reaching 1502.0 billion pounds in 2022-2023. This increase resulted from credit given to economic organisations, which made up 89.1per cent of the total credit in the sector and 31.3 per cent of total credit balances.

Surplus banking liquidity increased by 22.9 per cent from the previous year to reach 4648.8 billion pounds in 2022-2023, due to the influx of granted deposits. This resulted in a banking liquidity ratio of 49.2 per cent of total bank deposits.