Egyptian Banking Sector Assets Hike in Q1 2023

Updated 6/21/2023 1:31:00 PM
Egyptian Banking Sector Assets Hike in Q1 2023

Egyptian banks’ assets hit EGP 11.4 trillion during the fourth quarter (Q4) of 2022, up by 14% quarter on quarter (QoQ) from EGP 13 trillion during the first quarter (Q1) of 2023, according to data from the Central Bank of Egypt (CBE). 

The banking Sector’s deposits hit EGP 9.2 trillion in Q1 2023, while loans and discounts reached EGP 4.48 trillion. 

Egyptian banks’ profits were EGP 55.3 billion during the January-March period of this year.

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