Banque du Caire eyes doubling SMEs portfolio to EGP 30bn
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By: Islam Fadl

Cairo Mubasher: Banque du Caire is looking to raise its small- and medium-sized enterprise portfolio to reach EGP 30 billion in 2022, vice chairman said.

SME portfolio of Egypt's third-largest state-owned bank stands at EGP 7 billion now and it targets EGP 8 billion by the end of this year, Hazem Hegazy told Mubasher.

Hegazy also added that the bank has taken part in the Central Bank of Egypts (CBE) mortgage finance initiative with nearly EGP 1.6 billion for around 14,000 clients, targeting EGP 2 billion by the end of the year.

In September, chairman of Banque du Caire said that the bank succeeded in achieving higher net profits as well as an increase in its loans portfolio in the first six months of 2018 from a year-ago.

Speaking at a press conference in Cairo, Tarek Fayed added the bank had logged EGP 1.2 billion in profits after taxes in H1-18, up from EGP 827 million in the same period of 2017.

As for its loans portfolio, Fayed revealed that the banks lending grew 13% year-on-year to EGP 50.5 billion in H1-18 from EGP 44.5 billion.

Translated by: Mai Ezz El-Din

Source: Mubasher Exclusive

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