Egypt’s Banque Misr retail lending activity rose 30% in less than a year

Egypt’s second largest state bank, Banque Misr says its retail banking portfolio recently reached 23.5 billion Egyptian pounds ($1.3 billion).

The bank’s retail portfolio grew 30 percent since the beginning of the 2017-2018 financial year that ended on June 30 in vice chairman Akef El Maghraby told Amwal Al Ghad on Monday.

The portfolio recorded 18.1 billion pounds at the end of June 2017, around 24.8 percent up from 14.5 billion pounds a year earlier, El Maghraby said.

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