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Private sector accounts for 59.3% of credit facilities granted by banks to clients: CBE - Daily News Egypt

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Private sector accounts for 59.3% of credit facilities granted by banks to clients: CBE

Industry at forefront of economic sectors funded by banks followed by services, while the agriculture sector came last


The private sector accounted for 59.3% of the total credit facilities granted by banks to their clients in the period between July 2015 and February 2016, according to the Central Bank of Egypt (CBE).

In its monthly report issued on Monday, the bank said that the total balances of credit facilities granted by banks to their clients jumped by EGP 86.4 over the eight month period to record EGP 804.4 at the end of February, compared to EGP 718 in July 2015.

The private sector acquired 59.3% of these facilities. The public business sector accounted for the remainder.

According to the CBE, the industrial sector alone received 32.6% of the credit facilities.

The services sector followed, including tourism, where it obtained 26.3% of these facilities. Trade came third with 10.4%.

As always, the agriculture sector came last on the list with only 1.3% of the total of these facilities during the eight months observed by the CBE.

A number of other sectors were not listed in detail in the CBE’s report. Collectively, these sectors—including the household sector—received 29.4% of the total facilities.

 

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