Egypt's Banking Sector Sees Notable Improvement in Net Foreign Asset Position in March
Egypt's banking sector recorded a significant improvement in its net foreign asset (NFA) position, which widened by USD 4.86 billion month-on-month to reach USD 15.0 billion in March, up from USD 10.2 billion in February. This marks a strong reversal from a net foreign liability (NFL) position of USD 4.19 billion recorded in the same month last year, according to data released by the Central Bank of Egypt (CBE). Excluding the CBE, the banking sector posted a net foreign asset position of USD 2.53 billion in March, compared to a net foreign liability of USD 1.92 billion in February and USD 2.82 billion in March of the previous year, the data showed Commenting on the development, Financials analyst and economist at HC, Heba Monir, stated 'The month-on-month widening in the total NFA position is mainly attributed to a USD 4.51 billion increase in the banking sector's foreign assets, while foreign currency liabilities remained unchanged. This reflects a meaningful improvement in foreign exchange liquidity within the banking sector She added
'We attribute the rise in March's foreign assets to Egypt attracting USD 2.70 billion in foreign direct investments (FDIs) during Q1 2025, reflecting approximately 15% year-on-year growth. In addition, Egypt received a USD 1.2 billion tranche from the International Monetary Fund (IMF) under the USD 8.0 billion Extended Fund Facility (EFF). Both developments have played a key role in boosting foreign currency liquidity at local banks Google News تابعونا على تابعونا على تطبيق نبض جاري التحميل ...
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Egypt's Banking Sector Sees Notable Improvement in Net Foreign Asset Position in March
Egypt's banking sector recorded a significant improvement in its net foreign asset (NFA) position, which widened by USD 4.86 billion month-on-month to reach USD 15.0 billion in March, up from USD 10.2 billion in February. This marks a strong reversal from a net foreign liability (NFL) position of USD 4.19 billion recorded in the same month last year, according to data released by the Central Bank of Egypt (CBE). Excluding the CBE, the banking sector posted a net foreign asset position of USD 2.53 billion in March, compared to a net foreign liability of USD 1.92 billion in February and USD 2.82 billion in March of the previous year, the data showed Commenting on the development, Financials analyst and economist at HC, Heba Monir, stated 'The month-on-month widening in the total NFA position is mainly attributed to a USD 4.51 billion increase in the banking sector's foreign assets, while foreign currency liabilities remained unchanged. This reflects a meaningful improvement in foreign exchange liquidity within the banking sector She added 'We attribute the rise in March's foreign assets to Egypt attracting USD 2.70 billion in foreign direct investments (FDIs) during Q1 2025, reflecting approximately 15% year-on-year growth. In addition, Egypt received a USD 1.2 billion tranche from the International Monetary Fund (IMF) under the USD 8.0 billion Extended Fund Facility (EFF). Both developments have played a key role in boosting foreign currency liquidity at local banks Google News تابعونا على تابعونا على تطبيق نبض جاري التحميل ...
