Egypt’s c. bank achieves net profit of EGP 80.2b in Jan.

The Central Bank of Egypt (CBE) achieved a net profit of 80.230 billion Egyptian pounds during January 2024, the Federation of Egyptian Banks (FEB) reported on Tuesday, citing the bank’s financial statement.

The bank’s total liabilities and equity recorded 5.107 trillion pounds at the end of January, compared to 4.833 trillion pounds at the end of 2023, according to the statement.

The bank’s capital remained at 21.600 billion pounds, with reserves of about 371.245 billion pounds. Total assets increased to 5.107 trillion pounds in January 2024, compared to 4.833 trillion pounds at the end of December 2023.

Gold reserves stood at 257.01 billion pounds at the end of January, down from 260.1 billion pounds at the end of December, while reserves at the International Monetary Fund (IMF) rose to 22.8 billion pounds in January from 12.552 billion pounds at the end of December 2023.