CBE: Financial Status of Banks Reaches LE 1.3 Trillion

A recent report by the Central Bank of Egypt (CBE) showed rise in financial position of banks - other than the Central Bank- by EGP 75.6 billion or 4.2% to reach EGP 1.3 during the period from July 2011 until the end of February. Also, the total deposits in banks rose to reach EGP 999.3 billion, of which 687.4 billion in local currency. The report showed that external debt was reduced by about $ 1.2 billion, an average of 3.5% to record $ 33.7 billion at the end of last December. While the total domestic public debt reached 1,133 billion at the end of December 2011, which is equivalent to 72.2% of GDP.