The Central Bank of Egypt (CBE) has issued a report indicating that the value of credit facilities offered by the Egyptian banking sector surged by EGP 361 million (0.7%), registering EGP 505.50 billion at the end of last August, compared to 505.14 billion at the end of last July.

The value of credit facilities offered to the private business sector fell from EGP 473.9 billion last July to EGP 471.6 billion last August; of which local-currency credit facilities registered EGP 349.7 billion and foreign-currency credit facilities registered EGP 121.9 billion.

The value of credit facilities offered to the governmental business sector rose from EGP 33.1 billion last July to EGP 33.8 billion last August; of which local-currency credit facilities registered EGP 13.9 billion and foreign-currency credit facilities registered EGP 19.9 billion.