Cairo – Mubasher: Assets of banks operating in Egypt recorded EGP 5.1 trillion in July, vice chairman of the National Bank of Egypt said.
National banks have massive liquidity as deposits of clients hit EGP 3.6 trillion, versus loans of EGP 1.6 trillion, Yehia Abou El Fotouh highlighted on the sidelines of a conference on banks.
The NBE’s funding in the Central Bank of Egypt’s (CBE) initiative for small- and medium-sized enterprises (SMEs) reached EGP 27.3 billion for around 29,000 clients, he added.
The bank’s financings amounted to nearly EGP 4.7 billion for 47,000 beneficiaries, Abou El Fotouh indicated.
He further noted that the Egyptian economic growth is expected to reach 5.6% in the coming fiscal year.
