An employee counts money at an exchange office in downtown Cairo (Photo credit: Reuters/Amr Abdallah Dalsh)
CAIRO - 19 June 2022: Banking sector’s allocations increased 21.1 billion at the end of March 2022, recording LE 209.750 billion, compared to LE 188.515 billion at the end of December 2021, according to the Central Bank of Egypt’s (CBE) quarterly report.
The report added that total reserves rose by LE 30.686 billion to reach LE 439.217 billion at the end of March 2022, compared to LE408.531 billion at the end of December 2021, and banks' capital rose to LE 229.8 billion, compared to LE 215.356 billion.
The total investments of banks in securities and investments in treasury bills amounted to LE 3.549 trillion at the end of March 2022, compared to LE 3.324 trillion at the end of December 2021.
The CBE revealed that the banks achieved a net profit of LE 36.831 billion at the end of March 2022, compared toLE 29.9 billion at the end of March 2021.
Moreover, the net activity revenues amounted to about LE 91.415 billion, and total expenses recorded about LE 54.584 billion, and the net return of the banking sector hit about LE 77.394 billion at the end of March 2022.
The net profits of the five largest banks in the banking sector scored about LE 26.875 billion, accounting for 72.9 percent of the banking sector's profits.