Foreign deposits in Egypt banks rise to $12.42 bln April-end

Foreign deposits in Egypt rose to 741.759 billion Egyptian pounds ($12.42 billion) in April from 741.621 billion pounds in March, the central bank said on Sunday.

Official data released by the Egypt’s central bank showed that foreign deposits grew 6.3 percent year-on-year from 697.618 billion pounds in April 2018.

Egypt signed a $12 billion, three-year International Monetary Fund loan in November 2016 as part of efforts to attract foreign investors who fled during the 2011 uprising.