Banks working in the local market have supported their capital by EGP 9.69bn in 2018 to reach EGP 150.59bn by the end of December 2018, compared to EGP 140.901bn by the end of December 2017, according to the Central Bank of Egypt (CBE).
In its quarterly report, the CBE revealed the developments of banks’ financial positions, revealing that the total value of the financial position of the Egyptian banking sector recorded about EGP 5.432tn by the end of last year, compared to EGP 4.813tn at the end of the previous year, with an increase of EGP 619.3bn, an equivalent to 12.8%.
Banks’ reserves increased by EGP 22.5bn in 2018, reaching EGP 202.8bn, compared to EGP 180.24bn in 2017.
According to the CBE, total deposits in banks by the end of December 2018 reached EGP 3.802tn, compared to EGP 3.314tn by the end of 2017, with an increase of EGP 488bn and a growth rate of 14.7%.
The commitments of local banks toward foreign banks are nearly EGP 5bn, reaching about EGP 190.34bn by the end of 2018, compared to EGP 185.95bn by the end of 2017, while the balance of Egyptian banks in foreign banks reached EGP 161.739bn, compared to EGP 296.424bn.
Moreover, the CBE pointed out that the banks’ lending and factoring balances reached EGP 1.814tn by the end of 2018, compared to EGP 1.463tn by the end of 2017, with an increase of EGP 351.2bn.
The assets of other balances increased to EGP 329.722bn by the end of 2018, compared to EGP 278.34bn by the end of 2017.
According to the CBE, securities and bank investments in treasury bills rose to reach EGP 1.901tn compared to EGP 1.698tn, with a growth of 11.2% on an annual basis.