Egypt. C.Bank Says EGP 61 bln Allocates to Banks June-End

The banking sector’s allocations has recorded EGP 1.2 (2.1%) billion move up to EGP 61.3 billion at the end of June, compared to EGP 60.03 billion at the end of May.

The Central Bank of Egypt (CBE) has revealed declining in the banks’ reserves to reach EGP 35.8 billion at the end of June compared to EGP 36.8 billion in May valued at EGP 948 million (2.6%), CBE’s recent reports.

The total granted loans from the banking sector hit EGP 544.9 billion in June, against EGP 541.3 billion in May.