Alexbank Offers Microfinance Services In 70 Branches

Alex Bank plans to offer his microfinance services in more branches; to spread over its 70 branches by the end of the current year up from the 45 branches, Sherif Lokman, head of branches network at Alexbank, said.

Lokman told Amwal Al Ghad that Alex Bank is currently studying assigning a director for each of the Bank’s 210 branches to manage SMEs financing unit because of the important role of SMEs in boosting Egypt’s economy in the upcoming period.

Alex Bank’s branches that are offering services for top customers in 2012 will be increased from 10 to 50 branches.

Lokaman confirmed that Alex Bank’s infrastructure including branches and ATMs has not highly affected in the aftermath of January 25th revolution. Four branches only were affected, namely Hawamdia, Dekhela, Rafah and Arkadia. Hawamdia and Dekhela branches will be reopened next month.