Profits of Egypt's banks reach EGP 30B during Q1 of 2021

Profits of Egypt's banks reach EGP 30B during Q1 of 2021 Wed, Jun. 23, 2021
CAIRO – 22 June 2021: The Central Bank of Egypt (CBE) revealed that banks operating in Egypt achieved net profits of LE 29.991 billion during the first quarter (Q1) of 2021, and the net income from the return amounted to about LE 94.4 billion.

CBE’s data indicated that the activity’s revenues amounted to LE 117.296 billion during the first 3 months of 2021, while total expenditures recorded about LE 87.305 billion.

The sector’s assets at the end of last March recorded about LE 7.554 trillion, and banks’ investments in treasury bills amounted to about LE 2.838 trillion, and balances with Egyptian banks recorded about LE 1.066 trillion, while balances with banks abroad amounted to about LE 335.934 billion, and lending and discount balances to customers LE 2.648 trillion.

The capital of banks operating in Egypt amounted to about LE 177.92 billion, while reserves recorded about LE 347.826 billion, and allocations amounted to about LE 165.588 billion, long-term bonds and loans about LE 228.977 billion, and total deposits about LE 5.496 trillion.