Total financial position of banks in Egypt increases to EGP 7,948 billion in June 2021: CBE

0

The Central Bank of Egypt (CBE) revealed that the total financial position of banks operating in the local market, other than the CBE, increased to around EGP 7,948 billion in June 2021, from EGP 7.554 billion in March 2021, an increase of EGP 394 billion. .

The CBE said in its quarterly report on financial security indicators for the banking system that the total capital of banks stood at EGP 185.357 billion in June, compared to EGP 177.920 billion in March. On the other hand, bank reserves recorded EGP 362.183 billion, while the balance of allocations amounted to around EGP 170.349 billion.

The report added that total deposits with banks amounted to around EGP 5,731 billion, while bond and long-term loan balances stood at EGP 243.973 billion and loan balances amounted to EGP 243.973 billion. and customer discounts recorded around EGP 2,903 billion, while banks’ investment in treasury bills recorded EGP 2,871trn.

In the same context, CBE revealed that banks operating in Egypt recorded net profits of around EGP 51.006 billion in June 2021.

He explained that the net return was 150.746 billion EGP, the operating income was about 185.113 billion EGP and the total expenditure was about 134.107 billion EGP.

According to CBE, the five largest banks accounted for 73.74% of total net profit to record EGP 37.613 billion and 70.6% of net income to reach around EGP 130.792 billion. The top five banks collectively achieved a net return of EGP 105.902 billion while their spending amounted to approximately EGP 93.179 billion.

He pointed out that the top 10 banks accounted for 85.7% of total profits and 80.3% of total revenues, with a value of EGP 148.823 billion. The net yield of the 10 largest banks stood at EGP 121.177 billion and total expenditure at EGP 105.061 billion as of June 2021.



Leave A Reply

Your email address will not be published.