Banque Du Caire’s micro financing hit 2.26 billion pounds in 2017

Egypt’s third biggest state-owned bank, Banque Du Caire’s micro finance portfolio has registered 2.26 billion Egyptian pound by the end of December 2017 for 154,000 clients, according  Tarek Fayed, Chairman of BDC.

He added that the bank seeks to increase the micro finance portfolio by 70 percent by the end of 2018 reaching 3.8 billion Egyptian pounds for 180,000 clients.

Fayed added that the bank would achieve the increase through opening new branches in the governorates and industrial zones along with expanding in paying through mobile phones.

Banque Du Caire’s policy aims to support the country’s development plans and keen on pushing economic growth in many sectors, notably the small and medium-sized enterprises (SMEs).

He added that Female breadwinners obtained more than 34 percent of Banque Du Caire’s total microfinances.