Egypt’s banking sector’s loans portfolio recorded an increase of LE23.352 billion in March, amounting to LE675.334 billion compared to LE651.982 billion in February, according to the Central Bank of Egypt (CBE).
“Feeling the improvement in the security, political and eco- nomic sectors pushed the inves- tors to expand their businesses, which contributed to increasing the credit facilities in the banks,” said Abdel Rahman Abdel Ba- set, Head of the Central Bank- ing Operations Sector at the Housing and Development Bank (HDB).
According to the CBE, the pri- vate sector alone acquired 80.8 percent of the total loans offered by banks during March. The pri- vate sector leads the economic activity and the development process in any country; conse- quently, it acquires the highest percentage in the volume of loans extended by banks, said Abdel Baset.
The industry sector acquired and still acquires the biggest share in the banks’ loans. Ac- cording to CBE, the volume of the loans in this sector alone amounted to LE214.834 billion in March against LE210.911 billion in February, with an increase of LE3.923 billion.
