Egypt’s Banking Sector Net Foreign Assets Hit $14.7 Billion

Net foreign assets (NFA) within Egypt's banking sector—including both the Central Bank and commercial banks—rose by approximately $1.2 billion, reaching $14.7 billion in May 2025, up from $13.6 billion in April.

This positive momentum was largely fueled by a sharp increase in the net foreign assets of commercial banks, which surged to their highest level since February 2021, hitting $4.8 billion in May. This reflects a remarkable growth of $3.2 billion compared to the $1.6 billion recorded in April 2025.

In parallel, Egypt also witnessed a historic surge in remittances from Egyptians working abroad. According to the Central Bank of Egypt (CBE), remittance inflows soared by 77.1% during the ten-month period from July to April of fiscal year 2024/2025, reaching approximately $29.4 billion—up from $16.6 billion during the same period of the previous fiscal year.

Both the rise in net foreign assets and the unprecedented growth in remittances highlight the resilience of Egypt’s external financial position and provide crucial support to the country’s foreign currency reserves and economic stability.