Banque Du Caire pumps EGP2.5 bln in CBE’s SME initiative

Banque Du Caire has pumped loans of 2.5 billion Egyptian pounds financing small- and medium-sized enterprises (SMEs) within the framework of the Central Bank of Egypt’s (CBE) initiative since its inception.
A source with knowledge told Amwal Al Ghad that the bank seeks to pump to billion pounds in the SME portfolio by the end of the current year.
The source added the SME’s portfolio has recorded 7 billion pounds during the current period, with the bank seeking to increase it to 9 billion pounds by the end of 2018.
The source added that the bank pays great attention to SME sector during the next phase, noting that this is part of the bank’s efforts in boosting the national production and improving the Egyptian economy.
Banque Du Caire has recently announced that it offered about 3.4 billion Egyptian pounds to more than 184, 000 customers owning micro-enterprises.
Founded in 1952, Banque du Caire since its inception 62 years ago has been an avid contributor to the Egyptian economy, as one of Egypt’s top banks BDC has played an instrumental role in effectively and efficiently supporting the national economy across all sectors.