Alex Bank’s Auto Loans Hit EGP 1.5 Bln At End-April

Alex Bank Intesa Sanpaolo’s auto loan portfolio reached EGP 1.5 billion at the end of last April, accounting for 15.3% of the retail banking portfolio which stood at EGP 9.8 billion.

The bank targets to offer new auto loans worth EGP 150 million by the end of 2013 through contributing EGP 100 million to the finances offered to the third phase of the White Taxi Project and granting the bank’s customers EGP 50 million worth of auto loans, said Bassel Rahmy, general manager of retail banking group at the bank.

The bank also plans to increase retail loans by EGP 250 million to reach EGP 10.5 billion by the end of 2013.