print logo
Capital at banks amounts to EGP 177.92bn, reserves register EGP 347.826bn, provisions score EGP 165.588bn in Q1 of 2021: CBE.
26.06.21 | Interesting article at Daily News Egypt

The Central Bank of Egypt (CBE) has revealed that the total financial position of banks operating in the local market, other than itself, increased to about EGP 7.554trn at March 2021 end.


This compared to the EGP 7.022trn recorded in December 2020, reflecting an increase of about EGP 532bn.


The CBE said, in its quarterly report on the financial safety indicators of banks, that on the assets side, cash balances in banks amounted to EGP 54.189bn in March 2020. Their balances with banks in Egypt amounted to EGP 1.066trn, while their balances with banks abroad amounted to about EGP 335.934bn.


It added that credit facilities recorded about EGP 2.648trn, whilst the stock portfolio and banks’ investments in Treasury bills (T-bills) recorded EGP 2.838trn.


On the level of liabilities, the CBE stated that the capital of banks amounted to EGP 177.920bn in March 2021. Meanwhile, reserves recorded EGP 347.826bn, while the balance of provisions amounted to about EGP 165.588bn.


The liabilities of banks towards each other in Egypt amounted to about EGP 307.012bn, while their obligations to banks abroad recorded EGP 111.968bn. 


The total deposits amounted to about EGP 5.496trn while the balances of bonds and long-term loans amounted to EGP 228.977bn.