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Egypt’s bank deposits increase 43.1% in FY16/17 - CAPMAS

Egypt’s bank deposits increase 43.1% in FY16/17 - CAPMAS
Banks' loans went up by 51.3% to EGP 1.42 trillion in FY16/17

Cairo – Mubasher: Bank deposits rose by 43.1% year-on-year to EGP 3 trillion in fiscal year 2016/2017, according to a recent report by the Central Agency for Public Mobilization and Statistics (CAPMAS) on Monday.

Family deposits increased by 46.6% to EGP 1.938 trillion in the prior fiscal year, acquiring 64% of total bank deposits, as individuals contributed with 94.5% of total family deposits, the CAPMAS added.

Private sector’s deposits grew by 31.1% to EGP 455.5 billion in FY16/17, making up 15% of total bank deposits, the report showed.

Banks' loans went up by 51.3% to EGP 1.42 trillion in FY16/17, as compared with FY15/16.

Liquidity surplus of lenders operating in the North African nation increased by 36.5% to EGP 1.6 trillion in FY16/17, accounting for 52.8% of total deposits.