CBE: Credit facility balances rise to LE 2.9T by end of October 2021

CAIRO - 19 January 2022: The Central Bank of Egypt (CBE) on Tuesday said that the credit facility balances for clients in banks rose by around LE 92.5 billion to hit LE 2.996 trillion in July-October of the 2021/2022 fiscal year.

In its recent monthly report, the CBE said the credit facilities issued to the government reached LE 15.9 billion at a rate of 1.4 percent.

The non-governmental credit facilities increased to LE 76.6 billion at an average rate of 4.3 percent, the CBE added.

The CEB attributed the surge in credit facilities offered to the government to the rise in balances in foreign currency by LE 32.6 billion and the decline in balances in local currency by LE 16.7 billion.