Kuwait-based Al Ahli Bank of Kuwait-Egypt (AKB) aims to directly finance small and medium enterprises during 2018, according to insightful sources.
The sources told Amwal Al Ghad that the SMEs funding is one of the most prominent projects capable of creating new job opportunities and achieve fast returns to the capital, referring that the bank is currently indirectly financing these projects.
ABK is keen on expanding in financing SMES, where as the bank’s volume of funding SMEs registered 1.6 billion Egyptian pounds representing 15 percent of the credit portfolio.
on the other hand, Al Ahli Bank of Kuwait-Egypt signed a cooperation protocol with EFG Hermes Financial Leasing to support small and medium enterprises (SMEs), as part of the bank’s efforts towards the provision of integrated services that help SMEs to grow.
he bank’s strategy seeks interest in SMEs, where it is keen to provide the services and products that have been developed specifically to meet the needs of this important sector.