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Financial position of banks in Egypt up EGP 96.9bn in July 2020: CBE - Daily News Egypt

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Financial position of banks in Egypt up EGP 96.9bn in July 2020: CBE

Volume of doubtful debts allocations amounts to EGP 150.877bn, reserves amount to EGP 214.349bn


The total financial position of banks operating in the Egyptian market, other than the Central Bank of Egypt (CBE), increased by EGP 96.9bn in July 2020, to reach about EGP 6.505trn. The increase reflects a growth of 1.5% compared to June 2020.

In a recent report, the CBE said that the total capital of banks operating in the local market amounted to about EGP 173.179bn in July 2020, compared to EGP 173.701bn in June 2020.

Bank reserves recorded about EGP 214.349bn at the end of July 2020, compared to EGP 319.817bn at the end of June. At the same time, the volume of allocations at banks amounted to about EGP 150.877bn in the same period, compared to EGP 150.079bn in June.

The CBE indicated an increase in total bank deposits to about EGP 4.774trn by the end of July 2020, compared to about EGP 3.686trn by the end of June.

It added that the volume of loan and discount balances for clients reached about EGP 2.226trn by the end of July 2020, compared to about EGP 2.2trn at the end of June.

The total volume of long-term bonds and loans in banks reached EGP 209.464bn by the end of July 2020, compared to EGP 207.144bn at the end of June.

The total investments made by banks in local securities and treasury bills (T-bills) amounted to about EGP 2.652trn in the same period, compared to about EGP 2.622trn in the previous month.

According to the CBE, the volume of local balances for banks operating in the local market reached EGP 918.937bn in July 2020, compared to EGP 923.714bn in the previous month. The volume of their assets abroad amounted to about EGP 235.907bn in July 2020, compared to EGP 230.051bn in June.

Banks in Egypt recorded total liabilities of about EGP 209.695bn at the end of July 2020, compared to EGP 248.043bn in the previous month. The obligations of banks operating in the local market towards banks abroad amounted to EGP 125.595bn, compared to EGP 125.343bn in the same comparison period.

The CBE explained that the cash balance with banks reached about EGP 59.927bn at the end of July 2020, compared to EGP 64.234bn at the end of June.

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https://www.dailynewssegypt.com/2020/10/21/financial-position-of-banks-in-egypt-up-egp-96-9bn-in-july-2020-cbe/
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