CBE: Banks Offered EGP 499 Bln Loans By End Of May 2012

The value of loans offered by the banking sector in Egypt for the period from the beginning of July 2011 to May 2012 rose by EGP 27.6 billion (5.9%), registering EGP 498.9 billion in last May, up from EGP 471.2 billion at the end of June 2011.

According to the Central Bank of Egypt’s latest report, the value of loans offered to government bodies reached EGP 32.6 billion; of which foreign-currency loans registered EGP 17 billion and local-currency loans reached EGP 15.5 billion.

The loans offered to non-government bodies reached EGP 466.2 billion; of which foreign-currency loans registered EGP 121.9 billion and local-currency loans registered 344.2 billion.