Banking sector allocations hit £209.75bn at the end of March

A worker counts money at a currency exchange office in downtown Cairo. (Photo credit: Reuters/Amr Abdallah Dalsh)

CAIRO – June 19, 2022: Banking sector allocations increased by LE 21.1 billion at the end of March 2022, recording LE 209.750 billion, compared to LE 188.515 billion at the end of December 2021, according to the quarterly report of the Central Bank of Egypt (CBE) .

The report adds that total reserves increased by LE 30.686 billion to LE 439.217 billion at the end of March 2022, from LE 408.531 billion at the end of December 2021, and bank capital increased to LE 229.8 billion from LE 215.356. billion.

Total bank investment in securities and investment in treasury bills amounted to LE 3.549 trillion at end-March 2022, compared to LE 3.324 trillion at end-December 2021.

The CBE revealed that the banks made a net profit of LE 36.831 billion at the end of March 2022, compared to LE 29.9 billion at the end of March 2021.

In addition, the net income from the business amounted to about LE 91.415 billion, and the total expenditure recorded about LE 54.584 billion, and the net output of the banking sector reached about LE 77.394 billion at the end of March. 2022.

The net profits of the five largest banks in the banking sector reached about LE 26.875 billion, accounting for 72.9% of the profits of the banking sector.

James V. Hayes