During H1 2023, banks recorded reserves worth EGP 492.386 billion, of which EGP 377.942 billion were held by the 10 largest banks and EGP 326.422 billion by the 5 largest banks
In a recent Central Bank of Egypt (CBE) report, the bank revealed that the total financial position of banks operating in the local market jumped to around EGP 13.798 trillion during the first half of 2023.
The CBE revealed that the collective capital of banks operating in the local market was EGP 323.776 billion, while reserves were EGP 492.386 billion, and provisions were EGP 305.455 billion.
Banks operating in the Egyptian market recorded cash balances of nearly EGP 106.241 billion in June 2023, with balances in local and foreign banks of EGP 2.326 trillion and EGP 308.623 billion, respectively.
Banks’ customer lending and debit balances logged EGP 4.798 trillion with securities portfolio and bank investments in treasury bills reaching EGP 4.855 trillion. The CBE noted that other assets amounted to EGP 1.402 billion but did not disclose further details.
Obligations between local banks hit EGP 575.767 billion while obligations with banks outside of Egypt was EGP 450.686 billion.
Bonds and long-term loans were recorded at EGP 541.945 billion, with additional unidentified liabilities reached EGP 1.657 trillion.
Total deposits in banks operating in Egypt jumped to EGP 9.450 trillion in H1 2023. According to the report, the top 10 largest banks in Egypt held a collective EGP 7.385 trillion of total deposits, while the 5 largest banks recorded EGP 6.470 trillion.
Deposits to assets ratio fell to 68.6% in June 2023, compared to March 2023’s recorded 70.9%. For the top 10 largest banks, this was 67.5%, with the top 5 holding 67.2%.
The average EGP actual liquidity ratio dropped to 37.6% in June 2023, compared to 39.7% in March 2023. The top 10 largest banks held 36.1% while the top 5 took 35.8%.
In terms of foreign currency, the average actual liquidity ratio declined to 70.1% in June 2023, compared to 75.3% in March 2023. This ratio was 68% at the 10 largest banks and 65.9% at the 5 largest banks.
Overall loan-to-deposit ratio in banks operating in the Egyptian market jumped to 50.9% in June 2023, compared to 48.9% in March 2023. This ratio was 52.8% at the 10 largest banks and 54.6% at the top 5 banks.
Loan-to-deposit ratio in EGP saw a slight uptick to 44.7% in June 2023, compared to 43.1% in March 2023. This ratio was 44.9% at the 10 largest banks and 45.5% at the 5 largest banks.
The loan-to-deposit ratio in foreign currency in banks also increased to 76.4% in June 2023, compared to 71.5% in March 2023. This ratio was 86.3% at the 10 largest banks and 96.7% at the top five banks.
The private sector held 53.6% of the total loans granted by banks to customers in June 2023, compared to 55.3% in March 2023.
During H1 2023, banks recorded reserves worth EGP 492.386 billion, of which EGP 377.942 billion were held by the 10 largest banks and EGP 326.422 billion by the 5 largest banks.
