Cairo – Mubasher: Total amounts deposited in key saving schemes rose 65.2% to EGP2.23 trillion during the fiscal year 2014/15, said the Central Agency for Public Mobilization and Statistics (CAPMAS)
This increase is ascribed to a rise of 42.1% in banking saving schemes, which constitutes 77.5% out of the total value of key saving schemes, CAPMAS added.
In March, the Central Bank of Egypt lifted deposit and lending interest rates by 1.5%, or 150 points, to 10.7% and 11.75% respectively.
Total deposits in banks, including the state ones also edged up 0.6% to EGO 1.93 trillion by the end of January.
In 2014/15, both the private and public sectors accounted for 21.3% of the total deposits in the former sectors, which stood at EGP1734.2 billion against EGP 1429.4 billion for the fiscal year 2013/14.
