ADCB Egypt eyes funding next year

The bank’s credit portfolio grew by 57%

  

ArabFinance: Abu Dhabi Commercial Bank Egypt (ADCB Egypt) plans to pump EGP 2 billion to EGP 3 billion new financing in vital sectors during 2021, CEO Ihab ElSewerky said in a December 22nd press release.

The bank’s credit portfolio grew by 57% or EGP 3.5 billion in 2020, compared with the previous year, according to the CEO.

ADCB Egypt targets 25% growth rate next year, in addition to increasing the capital, ElSewerky stated.

He noted that the financial entity will launch the second phase of internet baking in January 2021, and the electronic wallet during the first quarter of next year.

With existing 47 branches across Egypt, the bank plans to double the number of ATMs to reach 200 devices by 2022, the official said.

ADCB Egypt recently won “The Most Promising Brand” award from the World Union of Arab Bankers.

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