Banque du Caire adds 9 new branches, to open digital unit

The bank is expected to open its first digital branch before the end of June, as part of the financial inclusion system

  
A man walks in front of a branch of Banque Du Caire in Cairo, Egypt March 18, 2020.

A man walks in front of a branch of Banque Du Caire in Cairo, Egypt March 18, 2020.

Reuters/Amr Abdallah Dalsh

Egypt - State-run Banque du Caire (BQDC) has opened nine units since the beginning of 2020, Chairman and CEO of the bank Tarek Fayed said, according to a June 11th press release.

The bank is expected to open its first digital branch before the end of June, as part of the financial inclusion system.

Meanwhile, the Vice Chairman of Banque du Caire Hazem Hegazy noted that the bank’s expansion plan is not limited to adding new branches but also includes full renovation of the existing units.

Hegazy added that 10 branches are planned to be developed and equipped with the latest technologies by the end of the year.

Banque du Cairo has also equipped about 30 branches to serve people of determination, the vice chairman said.

It is worth noting to mention that the European Investment Bank signed a financing agreement with the Egyptian bank in May to support small and medium enterprises (SMEs) in the manufacturing and services sectors.

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