Domestic banking sector’s liquidity climbs 7.6% to reach LE 7.96 trn: CBE

The Central Bank of Egypt (CBE) has released its report on the performance of the domestic banking sector, showing a significant increase in liquidity. The report reveals that as of March 2023, the total domestic liquidity in the banking sector reached LE 7.965 trillion, up from LE 7.402 trillion in December 2022, representing a growth rate of 7.6 percent.

The report further indicates that the money supply increased to LE 1.844 trillion in March 2023, up from LE 1.739 trillion in December 2022, representing a growth rate of 6 percent. Additionally, cash circulating outside the banking system amounted to LE 859.5 billion, up from LE 831.2 billion, representing a growth rate of 3.4 percent.

The report also reveals that the total non-governmental deposits in local currency in banks increased to LE 5.614 trillion in March 2023, up from LE 5.411 trillion in December 2022, representing a growth rate of 3.8 percent.

Demand deposits, on the other hand, increased to LE 985.3 billion in March 2023, up from LE 908.3 billion in December 2022. The public business sector acquired LE 50.38 billion of those deposits, while the private sector acquired LE 632.9 billion, and the family sector acquired LE 302.3 billion.

The balance of term deposits and savings certificates amounted to LE 4.628 trillion in March 2023, up from LE 4.503 trillion in December 2022, representing a growth rate of 2.8 percent. Of these deposits, the public business sector accounted for LE 72.740 billion, while the private sector accounted for LE 295.7 billion, and the family sector accounted for LE 4.260 trillion.

Furthermore, the CBE reports an increase in total non-governmental deposits in foreign currencies with banks to the equivalent of LE 1.491 trillion in March 2023, up from the equivalent of LE 1.16 trillion in December 2022, representing a growth rate of 28.4 percent.

Demand deposits in foreign currencies amounted to the equivalent of LE 398.2 billion in March 2023, while the volume of time deposits and savings certificates in foreign currencies amounted to the equivalent of LE 1.093 trillion.

The public business sector's share of demand deposits in foreign currencies was about LE 27.878 billion, while the private business sector held LE 260.0 billion, and the family sector held about LE 110.341 billion.

Meanwhile, the public business sector's share of term deposits and savings certificates in foreign currencies was about LE 62.922 billion, while the private business sector held about LE 247.493 billion, and the family sector held LE 782.745 billion.