ICEC

AlexBank posts 3.1% retail lending growth in six months

Egypt-based AlexBank, a member of Italian bank Intesa Sanpaolo, has made a 3.1 percent loan growth within its retail businesses from December 2016, to June 2017.

The bank’s retail lending totalled 14.812 billion Egyptian pounds ($832.4 million) at the end of June 2017 from 14.366 billion pounds at the end of December 2016.

The personal loans have the lion’s share in AlexBank’s retail lending portfolio, with a 95 percent share, a source in the bank told Amwal Al Ghad on Wednesday. They recorded 14.067 billion pounds at the end of June from 13.621 billion pounds in December 2016.

Overdraft accounts reached 634.5 million pounds at the end of June, compared to 642.2 million pounds at the end of December. Mortgages reached 15.75 million pounds from 16.5 million pounds.

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