NBE Eyes to Open 21 New Branches By End Of FY/13

Hazem Hegazy, Head of Retail Banking and Branches of the National Bank of Egypt (NBE), has revealed that his bank is planning to inaugurate 21 new branches within this current fiscal year in compared to 14 branches in 2012-2013, so the number of NBE’s branches will be 290.

Hegazy added to Amwal Al Ghad that over the past years , the bank developed  the branches of the bank in terms of infrastructure and technology by 20 to 30 annually, pointing out that, the bank is targeting to develop 35 branches during the current  FY to make all the branches become fully developed.

Hegazy has emphasized that NBE is aiming to open 6 new branches within the coming two months, including  the branches of Abbas El Akkad , Nasr City, Merryland and Algeria street in Maadi.

NBE’s retail loan portfolio registered an increase of EGP 3 billion recording EGP 19 billion in FY/2012, and has eventually jumped to EGP 22 billion by the end of June 2013.

The personal loans which granted in retail sector  recorded EGP 2.9 billion from the total loans, seizing the largest ratio  within the last FY.