Egypt’s bank lending hits EGP 6.831t by end of April ’24

Egypt’s banking sector saw a notable increase in loan balances to 6.831 trillion Egyptian pounds by April 2024, up from 5.286 trillion pound in December 2023, according to the Central Bank of Egypt (CBE).

The report showed that government loans reached 3.439 trillion pounds by the end of April, up from 2.356 trillion pound in December 2023. Of this amount, 1.617 trillion pound was in local currency and 1.822 trillion pound in foreign currency.

Non-government loan balances totalled 3.392 trillion pound by April, compared to 2.929 trillion pound in the previous year. Of this total, 2.676 trillion pound was in local currency and 716 billion pounds in foreign currencies.

Attribution: Central Bank of Egypt report

Subediting: M. S. Salama