Alex Bank Eyes 15% Growth In SMEs Portfolio By H2 2012

Alex Bank-Intesa Sanpaolo targets to increase SMEs loans portfolio by 15% in the second half of the current year, sources told Amwal Al Ghad.

The total value of finances offered by Alex Bank to SMEs reached EGP 1.024 billion by the end of the first half of the current year, sources added, assuring the bank’s concern about supporting this sector in the current period.

The bank offered EGP 100 million to micro-enterprises by the end of last March and targets growth rate of 25% by the end of the year. The total value of loans portfolio soared by EGP 1.62 billion, registering EGP 20.62 billion at the end of last June, up from EGP 19 billion at the end of December 2011.

The bank’s deposits portfolio surged by EGP 200 million, amounting to EGP 31.5 billion at the end of the first half of 2012, up from EGP 31.3 billion at the end of last March.