The CBE stated, in its newly issued monthly report, that on the assets side, cash balances in banks in January 2023 amounted to about EGP 95.203bn. The balances of banks locally recorded about EGP 2.199trn, while their balances with banks abroad amounted to about EGP 405.595bn. Regarding liabilities, the CBE stated that the banks' capital amounted to EGP 311.387bn, and the reserves recorded EGP 452.245bn, while the balance of provisions amounted to about EGP 383.181bn. This comes as the volume of non-governmental deposits in banks amounted to about EGP 6.977trn, of which about EGP 5.494trn in local currency and about EGP 662.873bn in foreign currencies. The private business sector's deposits in local currency amounted to EGP 832.992bn, while its deposits in foreign currencies amounted to EGP 480.695bn.

Source: Daily News Egypt May 22, 2023 03:00 UTC