Egypt’s Banking Sector Reports USD 5.2B Foreign Asset Surplus in 2024

Egypt’s banking sector saw a net foreign assets surplus of USD 5.224 billion in December 2024, down from USD 5.95 billion in November, according to the Central Bank of Egypt (CBE). Total foreign assets rose to EGP 3.506 trillion, while foreign liabilities dropped to EGP 3.240 trillion. Net foreign assets first turned positive in May 2024 after a prior deficit.

The CBE also reported a sharp rise in local liquidity. Non-governmental deposits in local currency reached EGP 7.555 trillion by the end of December, up from EGP 6.247 trillion a year earlier. Demand deposits totalled EGP 1.682 trillion, while time deposits and savings certificates climbed to EGP 5.873 trillion.

Foreign currency deposits also grew, hitting EGP 2.959 trillion in December, compared to EGP 1.561 trillion in 2023. Demand deposits in foreign currency reached EGP 701.434 billion, while time deposits and savings certificates totaled EGP 2.258 trillion. These figures highlight sustained growth in Egypt’s banking sector, with increasing liquidity and deposits reflecting broader economic stability.