Export Development Bank – Egypt seeks retail portfolio up to $55.8 mln this year

Egypt’s Export Development Bank plans to reach one billion Egyptian pounds ($55.8 million) worth of retail funding by the end of the current financial year from 400 million pounds last year, its chairman said on Wednesday.

“We are considering expanding in offering more digital banking platforms such as Mobile Banking in the coming period,” Mervat Sultan told Amwal Al Ghad on the sidelines of a news conference in Cairo.

The bank has recently signed a cooperation protocol with the Egyptian Mortgage Finance Fund (MFF) and has so far invested 15 million pounds in the mortgage sector, Sultan said.