Banks operating in Egypt financial position increase during February

The total financial position of banks operating in Egypt increased to 5.985 trillion Egyptian pounds at the end of February 2020, according to the central bank of Egypt

The February figures illustrate a slight increase on the  5.830 trillion pounds  reported at the end of January 2020.

The figures were released as part of the CBE’s monthly report on the performance indicators of banks in Egypt and the local economy.

The CBE added that the total capital of banks amounted to 155.28 biillion pounds by the end of February 2020, while the reserves amounted to about  257.7 billion pounds. The size of the allocations they made to face bad debts amounted to about 126.9 billion pounds.