Banking Sector’s Securities Portfolios Hit EGP 562.9 Bln At End Of August

The Egyptian banking sector’s securities portfolios surged by EGP 5.621 billion (1%), registering EGP 562.9 billion at the end of last August, compared to EGP 557.3 billion at the end of last July.

According to the Central Bank of Egypt’s (CBE) latest report, the banks’ investments in local-currency securities climbed by EGP 2.5 billion as it rose from 496.4 billion at the end of last July to EGP 498.9 billion at the end of last August; of which government sector accounted for EGP 464.4 billion, public business sector accounted for EGP 740 million, private business sector accounted for EGP 33.6 billion and foreign business sector accounted for EGP 89 million.

The banks’ investments in foreign-currency securities increased from EGP 60.8 billion at the end of last July to EGP 63.9 billion at the end of last August; of which government sector accounted for EGP 39.9 billion, private business sector accounted for EGP 4.58 billion and foreign business sector accounted for EGP 19.4 billion.