Egypt’s c.bank assets hike by 50% in one year

The Central Bank of Egypt (CBE) assets represent an increase of 1.494 trillion Egyptian pounds or 50 percent in one year, according to its latest financial reports on Sunday.

It witnessed a remarkable growth reaching 4.480 trillion pounds in June 2023, up from 2.986 trillion pounds in June 2022. The report added that the bank’s capital stood at 21.6 billion pounds and its reserves amounted to 371.281 billion pounds.

However, the value of CBE’s gold balances rose to 238.604 billion pounds in June 2023, compared to 137.107 billion pounds in June last year, reflecting the high global prices of the precious metal, the report added.