Arab Banking Corporation Eyes Personal Loans worth EGP800 mln in 2014

Arab Banking Corporation (ABC) is aiming to pump EGP150 million personal loans within 2014, so the total loan portfolios reached EGP800 million, against EGP650 million the total expected financing by the end of 2013.

Mr. Akram Tinawi: Managing Director  & CEO of ABC informed Amwal Al Ghad that his bank has captured a great proportion in the governmental sector, as it will pump EGP5 million personal loans per month to ensure the monthly salary.

He added that the bank  is targeting to expand largely in the retail sector in the light of the recession of credit rating corporate, along with lack of return on governmental instrument debts including treasury bills and bonds.

He pointed out that ABC offered many retail products, most notably medical loans, professors so as to lure new costumers’ categories, asserting that his bank is aiming to attract 10 K new customers by the next year.

He further asserted that ABC are in talks with insurance companies to activate ‘banking insurance by 2014.