Bank deposits increase 43.1% in 2016/2017

CAIRO – 19 February 2018: Bank deposits increased 43.1 percent in fiscal year 2016/2017 on a year on year basis to record LE 3027.8 billion, the Central Agency for Public Mobilization and Statistics (CAPMAS) said in an official statement Monday.

The statement showed that bank deposits for the family sector rose 46.6 percent in 2016/2017 to reach LE 1938.8 billion and the deposits for the private sector leveled up 31.1 percent, amounting to LE 455.5 billion.

For public service sector, the deposits increased 40.4 percent to record LE 384.3 billion in 2016/2017.

CAPMAS added that the bank credit jumped 51.3 percent in 2016/2017 on a year on year basis, recording LE 1427.5 billion.

Credit balances granted to the public business sector reached LE 475.1 billion in 2016/2017, marking a 79.2 percent increase, and the credit balance for the private sector rose 47.1 percent to achieve LE 676.2 billion in the same year.

Bank’s excess liquidity rebounded 36.5 percent to record LE 1600.3 billion in 2016/2017, according to the CAPMAS statement.

CAPMAS attributed the increase in excess liquidity to the rise of the deposits over the granted credit.