Egypt’s Banking Sector Sees Net Foreign Assets Surge to USD 8.7B
The latest report from the Central Bank of Egypt has revealed a huge increase in net foreign assets after two months of deficit.
A report from the Central Bank of Egypt has revealed a surge in the net foreign assets within the banking sector, reaching approximately USD 8.7 billion (EGP 437.26 billion) in January 2025. This marks a 65.8% increase from the USD 5.2 billion (EGP 265.9 billion) recorded in December 2024.
Net foreign assets peaked in May 2024 with USD 14.3 billion (EGP 676.46 billion), after over two years of deficit. This net foreign asset surplus has shrunk 39.3% since then, with commercial banks recording their sixth consecutive month of net foreign asset deficit. A fall in foreign liabilities within the central bank helped improve the sector’s overall position, pushing the sector into the green, with the central bank recording a surplus of USD 12 billion.
Across both central and commercial banks, January brought an increase in the total foreign assets from USD 70.7 billion (EGP 3.506 trillion) to USD 69.2 billion (EGP 3.579 trillion).
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