According to the CBE, banks have raised the size of their bad debt allocations by EGP 27.2bn in November, reaching EGP 98.603bn, up from EGP 71.357bn at the end of October. The size of loans granted to the government in foreign currencies also increased from EGP 87.2bn in October to EGP 178.57bn in November, an increase of EGP 91.3bn. The total volume of foreign assets at the CBE amounted to EGP 381.711bn, while the size of its liabilities is at EGP 464.054bn. In addition, foreign assets at banks rose from EGP 79.387bn in October to EGP 174.862bn in November; foreign liabilities also rose by almost 100% to record EGP 283.905bn. This put the net foreign assets deficit of banks at EGP 109.043bn, up by 74.5% in October.

Source: Daily News Egypt March 19, 2017 11:37 UTC