Banks’ Loans Hit EGP 526.6 Bln At End-Feb 2013: CBE

The value of loans offered by the Egyptian banking sector to customers rose 0.4% (EGP 2.6 billion) to reach EGP 526.6 billion at the end of last February, compared to EGP 524 billion at the end of last January.

According to CBE’s statistics, government loans reached EGP 34.5 billion at the end of last February, compared to EGP 36.2 billion at the end of last January, registering a retreat of 4.7% (EGP 1.7 billion).

The value of government loans offered in local currency fell to EGP 11.9 billion at the end of last February, compared to EGP 12.2 billion at the end of last January. The value of government loans offered in foreign currency dropped to EGP 22.5 billion at the end of last February, compared to EGP 24 billion at the end of last January.

The value of loans offered to non-government institutions rose 0.8% (EGP 4.3 billion) to reach EGP 492.05 billion at the end of last February, compared to EGP 487.7 billion at the end of last January.

The value of loans offered to non-government institutions in local currency reached EGP  360.9 billion at the end of last February, compared to EGP 358.5 billion at the end of last January. The value of loans offered to non-government institutions in foreign currency reached EGP 131.1 billion at the end of last February, compared to EGP 12.9 billion at the end of last January.