ICEC

Banque Du Caire Plans EGP200 mln Business Loans 2013-End

An official source at Banque Du Caire has told Amwal Al Ghad that the bank is targeting to boost its business loans to EGP 200 million by the end of the current year of 2013.

The source has informed Amwal Al Ghad that the bank is currently working to expand business loans, due to non-inclusion of this volume of loans, whether for both microfinance or small and medium enterprises SMEs, noting that the bank attained 60% of the target at the end of last August.

The source has emphasized that the policy which followed by the bank during the last period contributed in boosting Loan portfolio of the Bank’s retail banking to record EGP 12 billion at the end of last August,the bank is also seeking to increase the portfolios with 25% .

He added that the rate of default portfolio does not exceed 1%, this a low rate and the normal up to 3%.

The source has further stated that the number of customers in Bank’s retail banking reached 3 million customers (85%) from the total customers which reached 3.5 million, which makes retail banking credit portfolio constitutes 55% of the bank’s profits, asserting that the market share of the bank of the credit retail banking sector stands at 12%.

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