Bank deposits in local and foreign currencies climb to EGP 4.153 billion, $ 40.925 billion, respectively, in August 2021

Local currency deposits at banks operating in Egypt increased to EGP 4.153 billion in August 2021, from EGP 4.069 billion in July 2021, according to the Central Bank of Egypt (CBE).

CBE explained that there are two types of deposits: sight deposits, which recorded around EGP 615.997 billion, and term deposits and cash certificates, both of which recorded around EGP 3.537 billion.

The sight deposits of the public sector of enterprises amounted to EGP 37.691 billion, while the private sector and the household sector registered EGP 351.323 billion and EGP 227.251 billion respectively.

Regarding term deposits and cash vouchers, the share of the corporate public sector recorded EGP 38.882 billion, the private sector EGP 178.763 billion and the household sector EGP 3.319 billion.

CBE revealed that liquidity in the banking sector increased to EGP 5.489 billion in August, from EGP 5.425 billion in July.

The cash supply was EGP 1.307 billion in August, compared to EGP 1.285 billion in July 2021, with an increase of EGP 21.8 billion.

Cash flow outside the banking system was estimated at EGP 691.5 billion in August, up from EGP 699.46 billion in July.

Current deposits in local currency stood at EGP 615.9 billion in August, up from about EGP 586.2 billion in July, while quasi-money recorded EGP 4.181 billion, up from about EGP 4.139 billion. EGP.

The CBE revealed that non-current local currency deposits recorded EGP 3.537 billion in August 2021, up from around EGP 3.482 billion in July.

At the same time, foreign currency bank deposits reached $ 40.925 billion in August 2021.

Demand deposits in foreign currencies amounted to approximately $ 9.201 billion, while time and savings certificates amounted to $ 31.723 billion.

Public sector foreign currency sight deposits amounted to approximately $ 357.19 million, those in the private sector to EGP 5.447 billion and the household sector to $ 3.401 billion.

The public business sector accounted for $ 1.404 billion of total term deposits and foreign currency notes, the private sector $ 5.573 billion, and the household sector $ 24.745 billion.

CBE said net foreign assets in Egypt’s banking sector and CBE stood at $ 10.081 billion as of August 2021.

The volume of foreign assets in the banking sector was $ 55.366 billion in August 2021.

The CBE’s foreign assets stood at $ 39.579 billion, while the banks’ net foreign assets reached $ 15.787 billion in August 2021.

The total external liabilities owed by the banking sector amounted to about 45.285 billion dollars in August. Foreign liabilities owed by the CBE amounted to $ 25,074 billion, while the volume of bank liabilities amounted to $ 20.211 billion.

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