NBD Retail registered EGP 1.6 billion in 2011

National Bank for Development’s (NBD) retail banking finance portfolio rose by 25.2%, in value to EGP 400 million, as it reached EGP 1.6 billion in 2011, compared with EGP 1.2 billion in 2010.

NBD’s little enterprises finance portfolio was EGP 173 million in 2011, as the Bank granted 21 thousand finances. Insolvency rate rose to 25.6%, due to the current economical instability. As a result, NBD focused its efforts in the collection processes and reconsidered its credit-granting policies.

NBD’s documentary credits (import) rose by 93% in 2011, compared with 2010, while documentary credits (export) increased by 137%.

Company’s deposits grew by 8.4% and the finance granted to the sector rose by 9.7% in 2011. Commissions’ revenues received from customers of cash management services increase by 42%.