Financial position of Egyptian banks increases to EGP 6.5 trn in July – CBE

The total financial position of banks operating in the Egyptian market, except for the Central Bank of Egypt (CBE), increased by 96.9 billion Egyptian pounds or 1.5 percent month-on-month (MoM) to 6.5 trillion pounds at the end of last July, compared to 6.4 trillion pounds.

According to the CBE’s monthly bulletin, balances held by banks in Egypt retreated to EGP 918.93 billion in July from  923.71 billion pounds in June.

Meanwhile, balances held by banks abroad grew to 235.9 billion pounds in July, compared to  230 billion pounds a month earlier.

In addition, banks’ securities and investments in treasury bills (T-bills) rose to 2.65 trillion pounds in the seventh month of 2020, compared to 2.62 trillion pounds in the prior month.

Loans and discount balances for customers increased to 2.22 trillion pounds from 2.20 trillion pounds, while total deposits grew to  4.77 trillion pounds from  4.68 trillion pounds.