Egypt’s bank deposits grow 17.4% in FY19/20 – CAPMAS

Egypt’s bank deposits grew by 17.4 percent year-on-year (YoY) to 4.686 trillion Egyptian pounds during fiscal year 2019/2020, according to a report by the Central Agency for Public Mobilization and Statistics (CAPMAS).

Household deposits increased by 19.8 percent to 3.253 trillion pounds in the year ended on 30 June 2020, while private-sector deposits rose by 4.7 percent to 567.3 billion pounds, data showed.

Meanwhile, bank deposits of the service sector advanced by 27.5 percent to 511.1 billion pounds in FY19/20.

Moreover, the bank credit balances surged by 18.7 percent to  2.204 trillion pounds, including  919.3 billion pounds provided to the private sector,  592.3 billion pounds to the public business sector, and 436.2 billion pounds to state-run economic authorities.