Banque Du Caire Raises SMEs Portfolio to EGP 7.4 Bln by 2016

Banque Du Caire plans to inject EGP 7.4 billion to small and medium enterprises (SMEs) in the three upcoming years, raising the SMEs portfolio to EGP 8 billion, up from EGP 600 million was offered to 250 customers, said Mounir El Zahed, chairman of the Bank.

El Zahed added in an interview with Amwal Al Ghad that the Bank is reforming its SMEs program so as to provide SMEs customers with a line of credit.

The first stage of the new product includes assigning 80 employees to a single task in inquiry, risk management, external marketing or analysis departments. The second stage depends on the fresh graduates by the second half of the current year, El Zahed said.

El Zahed called on all banks to focus on financing SMEs for their major role in increasing national income, gross domestic product, employment opportunities and exports as well as supporting industrial integration, social and political stability and creative capabilities, in addition to raising living standards.