Aggregate Financial Position of Local Banks at EGP 17.9 Trillion in Q1
The position rose from EGP 14.2 trillion in December 2023 to EGP 17.869 trillion, marking a EGP 3.69 trillion increase.
The Central Bank of Egypt has announced that there has been a notable increase in the aggregate financial positions of local banks in the first fiscal quarter of 2024. As of March 2024, the aggregate position of local banks rose from EGP 14.2 trillion in December 2023 to EGP 17.869 trillion, marking a EGP 3.69 trillion increase.
Cash balances in local banks reached EGP 175.964 billion, with interbank balances amounting to EGP 3.181 trillion. Bank balances with foreign banks totalled EGP 1.042 trillion.
The amount of loans and discounts extended to customers was approximately EGP 6.817 trillion. Banks held EGP 5.490 trillion in securities and treasury bills, with an additional EGP 1.189 trillion in other unspecified assets.
On the liabilities side, the Central Bank of Egypt reported that banks' capital amounted to around EGP 449.610 billion. Reserves stood at EGP 793.803 billion, and provisions were recorded at EGP 448.678 billion.
Banks' obligations to domestic interbank transactions totaled about EGP 1.543 trillion, while their obligations to foreign interbank transactions amounted to EGP 565.696 billion. Total deposits reached EGP 11.425 trillion, and long-term bonds and loans were valued at EGP 842.209 billion. Other unspecified liabilities were reported at EGP 1.828 trillion.
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