Banque Du Caire’s investments in government debt instruments have recently reached around EGP 22 billion.
Senior source from the bank stated that Banque Du Caire’s investments in treasury bills hit EGP 13 billion; whereas in treasury bonds scored around EGP 9 billion.
The source has stressed the crucial role played by the governmental banks in investing in the government debt instruments to provide the most suitable finance for the cash-strapped state.
Banque Du Caire is one of the key investors in the government debt instruments in Egypt, the source added.
Despite the fact that investing in the treasury bills and bonds reversely affect the credit ratings of Egypt’s major banks and financial institutions, the source reassured that the recent relative political stability and signs of economic breakthroughs will undoubtedly contribute to improve the ratings within the upcoming period.