The Commercial International Bank (CIB) Egypt, the countrys leading private sector bank, announced the launch of a new comprehensive loan programme on Wednesday. The new programme features several products and services that directly target small and medium-sized enterprises (SMEs).

According to the press statement, the programme aims to encourage SMEs growth and integration into the banking system.

Under the new loan programme, the bank offers SME owners time loans, medium-term loans with tenors up to five years, overdrafts, letters of guarantee, and letters of credit with credit limits up to EGP 30m.

CIB invests in providing Egypts SMEs with top-notch banking solutions that help them prosper and become key players in the overall fabric of Egypts economy, said Rashwan Hammady, head of Business Banking at CIB.

We fully understand what these segments want to grow and by extending this comprehensive loan structure to them, we hope to offer a holistic package of products and that feed directly into their growth story, which is part and parcel of our strategy to align with Egypts national growth story as well, he added.

The bank announced that the SME loan programme is now available to new and existing business customers.

2019 Daily News Egypt. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an as is and as available basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.