Egypt banks: Provisions rise by EGP 117b in Dec ’23-Apr ’24

Egyptian banks’ provisions increased from 346.922 billion Egyptian pound by the end of December 2023 to 463.829 billion pound by April 2024, a rise of 117 billion pound, as per latest data published by Central Bank of Egypt (CBE).

The banks’ capital has increased from 410.877 billion pound by the end of December 2023 to 451.253 billion pound by the end of April 2024, while reserves have surged from 476.473 billion pound to 796.500 billion pound during the same period.

Meanwhile, total deposits have also shown a positive trend, increasing from 10.137 trillion pound to 11.565 trillion pound, according to the report.

Attribution: Central Bank of Egypt report 

Subediting: M. S. Salama