The Banking Executive, Issue 155, November 2021

Foreign Assets FOREIGN ASSETS IN EGYPTIAN BANKS HIT $11BLN IN SEPTEMBER: CBE The net foreign assets of the Egyptian banking system, including the Cen- tral Bank of Egypt (CBE), jumped to $11 billion in September 2021, com- pared to $10 billion in August, ac- cording to a report by the CBE. The foreign assets of the banking sec- tor amounted to about $56.96 billion in September 2021, compared to $55.36 billion in August 2021. The total foreign assets of CBE amounted to $39.78 billion by the end of September, compared to $39.57 billion in August. Meanwhile, the net foreign assets of banks recorded $17.179 billion in September, when compared to $15.787 billion in the prior month. By the end of September, the total foreign liabilities to the banking sec- tor amounted to $45.88 billion, com- pared to about $45.28 billion in August. The foreign liabilities of CBE amounted to $24.88 billion in Sep- tember 2021, compared to $25 bil- lion in August, while the total foreign liabilities of banks amounted to $21 billion compared to $20 billion. According to the report, the total local currency deposits with banks operating in the Egyptian market, other than government deposits, recorded about EGP 4.239 trillion in September 2021, compared to about EGP 4.153 trillion in August 2021. Demand deposits recorded about EGP 637.4 billion in September, compared to EGP 615.99 billion in August. As for time deposits and savings cer- tificates, it amounted to about EGP 3.6 trillion in September 2021, com- pared to about EGP 3.5 trillion in Au- gust. The public business sector acquired EGP 40 billion of time deposits and savings certificates, compared to EGP 183.865 billion for the private sector, and EGP 3.377 trillion for the household sector. In the same vein, the total deposits of the banking sector in foreign cur- rency reached $40.83 billion in Sep- tember 2021, compared to about $40.9 billion in August 2021. The public business sector’s share of foreign demand deposits amounted to $437.81million, the private busi- ness sector $5.509 billion, and the household sector $3.468 billion. This comes while the public business sector’s share of time deposits and savings certificates in foreign curren- cies amounted to $1.318 billion, $5.529 billion for the private busi- ness sector, and $24.574 billion for the household sector. ISSUE 155 NOVEMBER 2021 the BANKING EXECUTIVE 55