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Bank deposits up EGP 16.792bn November 2019 - Daily News Egypt

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Bank deposits up EGP 16.792bn November 2019

Household sector accounts for 81.6% of total deposits, 84.4% of deposits in local currency


The Central Bank of Egypt (CBE) revealed that customer deposits in the banking sector increased by about EGP 16.792bn to EGP 4.18trn at the end of November, compared to EGP 4.16trn October 2019.

In its monthly report issued on Sunday, the bank indicated that government deposits recorded EGP 612.57bn in November, compared to EGP 623.77bn in October, a decrease of EGP 11.19bn.

The government deposits in the local currency amounted to EGP 537.15bn, and EGP 545.95bn in foreign currencies.

The CBE added that non-governmental deposits recorded an increase of EGP 27.98bn EGP 3.57trn in November, compared to EGP 3.54trn in October.

He added that non-governmental deposits in the local currency reached EGP 2.9trn in November, compared to EGP 2.86trn in October, an increase of EGP 36.32bn, while non-governmental deposits in foreign currencies were EGP 668.98bn, down from EGP 677.32bn.

According to the CBE, the growth rate in total bank deposits increased to 13.01% in November, compared to 12.8% in October.

The CBE indicated that the rate of growth in deposits in local currency rose to 20.1% in November, compared to 19.5% in October, while the rate of growth in deposits in foreign currencies reached -10.1%, compared to -8.9%.

According to the CBE, the share of foreign currencies in total deposits in banks declined to 18.62% at the end of November 2019, compared to 19% at the end of October.

In November, the household sector accounted for about 81.6% of the total bank deposits. The sector’s share of deposits in local currency was 84.4%, and 69.5% in foreign currencies.

Topics: bank deposits

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