News Column

Bank loan assets increase by EGP 7bn in March: CBE

June 3, 2014

Daily News Egypt



Government and non-governmental loans assets in banks

(Photo Courtesy of the CBE)

By Abdel Qader Ramadan

The total value of loan assets during the first quarter of the fiscal year was valued at EGP 13.2bn, approximately EGP7bn of which came in the month of March alone, according to a recent report by the Central Bank of Egypt.

Bank balances in March rose to EGP 559.444bn as compared to EGP 553.464bn in February and EGP 546.228bn in December of last year.

The government, including both the ministries and public bodies, acquired EGP 38.6bn in loan assets at the end of March, a decline of EGP 1.3bn from the month of February.

EGP 11.68bn of governmental loans in March were distributed in domestic currency and EGP 26.9bn in foreign currency, compared to EGP 11.8bn domestic and EGP 28bn foreign in February.

Total non-government loan assets rose in March by approximately EGP 8.2bn, reaching EGP 520.8bn, compared to EGP 512.6bn in February.

Total non-government loan assets in domestic currency rose by EGP 6.8bn in March to reach EGP 385.3bn as compared to EGP 378.4bn.

Non-government loan assets in domestic currency at the end of March were distributed across various sectors as follows: agriculture had EGP 4.8bn versus 4.7bn in February; industry had EGP 112.5bn versus 108.8bn in February; commerce 46bn versus 45.5bn in February; and services 86bn versus 85.7bn in February.

The household sector accounted for EGP 135.6bn in March versus EGP 133.3bn in February, and individuals EGP 132.3bn versus EGP 130bn in February.

Total non-government loan assets in foreign currency rose to EGP 135.5bn in March versus EGP 134.3bn in February. These loans were distributed as follows: EGP1.7bn in agriculture in March versus 1.6bn in February; EGP 65.4bn in industry versus 63.9bn in February; EGP 11.8bn in trade versus 10.9bn in February; 46.6bn in services versus 46.9bn in February.

Non-government loan assets in foreign currency rose for the household sector to EGP 2.11bn in March versus EGP 2.1bn in February, and to EGP 2bn from 1.9bn for individuals.

Month September October November December January February March

Total Loan Assets

545971

546391

546547

546228

548811

552464

559444

Governmental

38196

38390

37237

41555

40613

39874

38623

Non-governmental

507775

508001

509310

504673

508198

512590

520821

*Government and non-governmental loans assets in banks

*Values in millions of EGP


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Source: Daily News Egypt


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