For the first time, net foreign assets had a surplus in May, totaling $13.64 billion.

According to the Central Bank of Egypt (CBE), net foreign assets in the Egyptian banking system increased by $9.2 billion, or EGP 450.861 billion, in October 2024 as opposed to $10.3 billion, or EGP 498.6 billion, in September 2024.

After a deficit of EGP 174.385 billion in April, net foreign assets had their first surplus in May, totaling EGP 676.4 billion. In October, the total foreign assets of the banking system were EGP 3.584 trillion, up from EGP 3.562 trillion in September.

In October, liabilities were EGP 3.133 trillion, up from EGP 3.064 trillion in September. According to CBE, the amount of local liquidity in the Egyptian banking industry increased from EGP 8.877 trillion in December 2023 to EGP 11.247 trillion in September 2024.

According to CBE, the total amount of local currency non-governmental deposits held by banks that operate in the local market rose from EGP 6.247 trillion in December 2023 to EGP 7.307 trillion in October 2024. Demand deposits in local currency totaled EGP 1.614 trillion, up from EGP 1.301 trillion in December 2023, according to CBE. The private sector contributed EGP 907.222 billion, the household sector contributed EGP 600.035 billion, and the public business sector contributed EGP 107.434 billion.

According to CBE, overall non-governmental deposits in foreign currencies at banks increased from EGP 1.561 trillion in December 2023 to EGP 2.776 trillion in October 2024. Time deposits and savings certificates totaled EGP 2.091 trillion, while demand deposits in foreign currencies totaled EGP 684.987 billion.

According to CBE, demand deposits totaled around EGP 32.478 billion for the public business sector, EGP 467.198 billion for the private business sector, and EGP 185.434 billion for the home sector.

Additionally, the public business sector bought about EGP 142.847 billion in foreign currency time deposits and savings certificates, the private business sector acquired approximately EGP 465.631 billion, and the household sector acquired approximately EGP 1.482 trillion.