National Bank of Egypt’s Loans Portfolio Registers EGP117bn

The total value of National Bank of Egypt(NBE)’s loans portfolio reached around EGP117 billion, stressing that the syndicated loans captured nearly EGP60 billion from the portfolio, said Vice President of NBE Mahmoud Montasser.

The bank is considering increasing its capital to EGP15 billion before the end of the current fiscal year instead of EGP9.2 billion, Montasser added.

The bank’s finance portfolio for micro projects estimated at EGP2.3 billion at the end of the first quarter of the ongoing year, Montasser said.

The total value of contracts with Social Fund for Development (SFD) valued at EGP8.4 billion at the end of last October.

The bank’s deposits achieved 26% growth rates to become EGP393 billion at June 2013/2014 in compared to the last year as the deposits reached up EGP313 billion.

Around the departure of each of the head of retail banking at NBE Hazem Hegazy to take the position of  head of retail banking at Barclays Egypt bank and the head of financing SMEs department at NBE Soha Soliman to take over position in Social Fund for Development (SFD).

In addition to, Group Head, Treasury, Securities and Foreign Division at NBE Zeinab Hashim who departed from her position to become the CEO of Abu Dhabi Islamic Bank PJSC (ADIB), Montasser added that Second grade leaders are able to take responsibility, stressing that what happened in NBE regarding the departure of a number of leaders happen in any other institution.