The Central Bank of Egypt (CBE) announced on Tuesday a significant rise in loan balances at Egyptian banks, reaching 5.286 trillion pounds by the end of December 2023 compared to 4.012 trillion pounds recorded at the close of 2022.
The report showed that government loans reached 2.356 trillion pounds by the end of last year, up from 1.604 trillion pounds in 2022. Of this amount, 1.256 trillion pounds was in local currency and 1.100 trillion pounds in foreign currency.
Non-government loan balances totalled 2.929 trillion pounds at the end of December, compared to 2.408 trillion pounds in the previous year. Of this total, 2.462 trillion pounds was in local currency and 467.2 billion pounds in foreign currencies.
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