Total Egyptian bank loan balances jumped by more than 2 trillion pounds during the first nine months of this year, with a growth of 22.5%.
Bank loans rose to 12.4 trillion pounds at the end of last September, compared to 10.09 trillion pounds at the end of December 2023.
The Central Bank of Egypt has raised interest rates by about 800 basis points since the beginning of this year, reaching the highest point ever at 27.25% for deposits and 28.25% for lending, with the aim of curbing rising inflation.
