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· The paid-in capitals for the banks working in Egypt aggregated to EGP 175 billion at the end of December 2020, according to the Central Bank of Egypt (CBE)
· The earnings of the banks reached around EGP 58.9 billion, says CBE in a recent report on the financial stability of the banking sector in Egypt
· The Monetary Policy Committee of the Central Bank of Egypt (CBE) decided to keep the overnight deposit rate, overnight lending rate, and the rate of the main operation unchanged at 8.25 percent, 9.25 percent, and 8.75 percent, respectively
· The discount rate was also kept unchanged at 8.75 percent
The paid-in capitals for the banks working in Egypt aggregated to EGP 175 billion at the end of December 2020, according to the Central Bank of Egypt (CBE).
The earnings of the banks reached around EGP 58.9 billion, says CBE in a recent report on the financial stability of the banking sector in Egypt.
The balance sheets of the banks working in Egypt, except CBE, have risen to EGP 7.022 trillion by the end of December 2020 from EGP 5.856 billion by the end of December 2019.
In the meantime, the Monetary Policy Committee of the Central Bank of Egypt (CBE) decided to keep the overnight deposit rate, overnight lending rate, and the rate of the main operation unchanged at 8.25 percent, 9.25 percent, and 8.75 percent, respectively. The discount rate was also kept unchanged at 8.75 percent.
The annual headline urban inflation increased to 4.5 percent in February 2021 from 4.3 percent in January 2021. It decelerated from 5.4 percent in December 2020, attributing this slight increase to the unfavorable base effect and reflected the higher annual contribution of nonfood items
Real GDP growth at market prices increased in 2020 Q4 to record a preliminary figure of 2.0 percent, up from 0.7 percent during 2020 Q3 and a contraction of 1.7 percent during 2020 Q2.
The unemployment rate broadly stabilized at 7.2 percent during 2020 Q4 compared to 7.3 percent during 2020 Q3, after improving markedly from the 9.6 percent recorded during 2020 Q2 due to the sustained improvement in employment levels.
