Total assets of Egypt Post reaches LE 206B

CAIRO – 17 April 2018: Total assets of Egypt Post recorded LE 206 billion ($ 11.6 billion) by the end of June 2017, representing 7 percent of LE 2.92 trillion liquidity, according to a source from the Post Authority.

The source added that the assets allocated 8.24 percent of total deposits in the banking system in all currencies, which amounted to LE 2.49 trillion and allocated 11.08 percent of Egyptian pound deposits.

Chairman of Egypt Post Essam el Saghir said on Monday April 16, that Egypt Post decided to exempt residents of North Sinai from fees on its main services, in an attempt to facilitate the life of citizens of North Sinai.

Saghir stated in December that the volume of saving deposits at Egypt Post reached LE 200 billion, with the number of customers recording 34 million.

The deposit volume at Egypt Post stood at LE 188 billion in June, LE 115 billion of which were deposited at the state-owned National Investment Bank (NIB).

In August, Egypt Post decided to substitute the postal savings books with ATMs, with the measure applied in Cairo and Giza post offices as a first stage; this measure will later expand to governorates nationwide.

The ATM service was then launched for citizens with no minimum charges and could be issued with a balance of LE 10 ($0.57).

Egypt Post ‘s chairman clarified that this service allows online purchasing inside or outside Egypt, referring that it can be used through any bank’s ATMs.

The chairman told Egypt Today earlier that citizens can get the ATM card from any post office for LE 25 with their national IDs.

Egypt Post has around 400,000 branches in Egypt with 24 million customers.