Alexandria Business Association injects EGP2.3bln into loans during Q1

Alexandria Business Association announced that its loans portfolio recorded 2.3 billion Egyptian pounds by the end of March 2020 compared to 2 billion Egyptian pounds by the end 2019, its Executive Director Magdy Moussa.

He told Amwal Al Ghad that ABA is financing 506 thousand clients by the end of March 2020 compared to 490 thousand by the end of December 2019.

The average loan per client amounted to 7.082 thousand pounds at the end of March 2020, compared to 7.050 thousand pounds at the end of last year.

The microfinance portfolio to companies and associations increased to record 17.675 billion pounds by the end of February 2020, compared to 12.187 billion pounds at the end of February 2019.