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The Central Bank's financial statements revealed that its losses during the fiscal year (2017 – 2018) reached 33.347 billion pounds at the end of June, compared with a net profit of 12.666 billion pounds compared to the previous year. at the previous exercise. As well as efforts to absorb the excess liquidity of the market.
The bank has decided to raise its paid – up capital to 21.6 billion pounds by the end of last year. The Ministry of Finance has injected 7.6 billion pounds, including 6 billion pounds into the public treasury, according to its financial statements, the largest increase in its history.
"When signing a protocol with the Ministry of Finance, Mei Abdul Hamid, general manager of the Fund for Social Housing and Mortgage Support, said that the total number of fund clients benefiting from the mortgage financing system for the social housing project amounted to 218,000. " Directly 3.4 billion pounds, where the "central" 35 billion, as the interest rate.
The bank's financial performance for the last fiscal year totaled 118.875 billion, an increase of 41.8 percent, while the cost of deposits and loans reached 129.276 billion at the end of June, an increase of 117 percent over a year earlier. year. Revenue deficit of 10.4 billion pounds.
For his part, Dr. Alaa Al-Shazly, a former member of the bank's board of directors and professor of economics at Cairo University, said the central bank's financial statements do not are not as detailed as those of other banks and companies, but include only banking operations and the budget for cash issues. The role it plays in stimulating the economy during the recent period through various initiatives, the absorption of excess liquidity in the market and attempts to control inflation.
Benset Fahmy, a member of the Economic Committee of the House of Representatives, stressed that the central bank was not supposed to lose, especially since it had many banking operations and used excess liquidity , as well as profits, as well as his role as a banker.
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