Cairo- Mubasher: Egypt’s banking sector witnessed an increase by 24.5% in deposits during the July-March FY2015-16 period, according to Central Bank of Egypt (CBE).
“The total number of deposits reached EGP 2.006 trillion ($225 billion) during the nine months, compared to EGP 1.66 trillion ($186 billion) during the same period last year,” CBE stated.
Governmental deposits reached EGP 314.7 billion, while the non-governmental ones recorded about EGP 1.69 trillion.
Domestic savings level reached 6% during the last fiscal year, while the government seeks to level it up to 7% during the current year, according to the data released by the Ministry of Planning.
Loans grew 25.6% year-on-year from EGP 675 billion to EGP 847.6 billion. Loans were distributed as EGP 121.3 billion for the government and EGP 726 billion for the private sector and individuals.
