By: Heba El-Kordy
Cairo – Mubasher: The Egyptian banking sector’s net foreign assets registered its highest increase in 15 months, rising by 21% year-on-year to EGP 341.6 billion in July from EGP 282.2 billion, data released by the Central Bank of Egypt (CBE) showed.
Month-on-month, banks’ net foreign assets grew by 16.3% from EGP 293.3 billion in June.
The CBE’s foreign assets amounted to EGP 733.9 billion, while the lenders’ foreign assets reached EGP 333.3 billion.
On the other hand, the banking sector’s liabilities retreated to EGP 725.6 billion in July from EGP 745.4 billion in June.
It is worth to mention that the North African nation’s foreign currency reserves hiked by $565 million to $44.916 billion in July, compared to $44.351 billion a month earlier.
