Tuesday 01 February 2022
I wrote – Manal Al-Masry:
Yahya Aboul Fotouh, Vice President of the National Bank of Egypt, said that the bank attracted deposits of 500 billion pounds during the last 6 months.
He explained in statements to Masrawy, that the increase in the volume of deposits came to allow the National Bank to provide savings products with a distinct interest on the pound, as well as to financial inclusion activities, which contributed to attracting new customers, as well as increasing customer confidence in the bank.
Aboul Fotouh stressed that deposits in the bank usually increase by 50 billion pounds per month, and the rate of increase was greater in recent months, which contributed to the bank’s total deposits portfolio reaching 2.4 trillion pounds at the end of last month, which is the highest savings at the level of the banking system.
He added that the ratio of employing loans to deposits is 50%, which shows the volume of liquidity available to finance the cost of various projects, provided that it is consistent with the feasibility study.