AlexBank SMEs loans records EGP 3.2 bln in Q1 2019

AlexBank, a member of Italian bank Intesa Sanpaolo, recorded a total Small and medium enterprises loan of 3.2 billion Egyptian pounds by the end of  the first quarter of 2019.

According to recent financial statements, the total medium enterprises loans registered 1.9 billion pounds while the corporate loans posted  17.6  billion pounds by the end of March 2019.

The Central Bank of Egypt has obliged the banks operating in Egypt that SMEs portfolio should capture 20 percent of the credit portfolio by 2020, thus the SMEs funding would reach 200 billion pounds.

t the bank’s personal financing amounted to 18.2 billion pounds by the end of March 2019. The net credit portfolio of the bank reached 38.1 billion pounds.

Customers’ deposits at the bank stood at LE 80.5 billion at the end of March 2019, compared to LE 78.7 billion at the end of 2018.

The bank posted a net profit of 932.4 million pounds at the end of the first quarter of 2019, compared to a profit of 809 million pounds at the end of the first quarter of 2018.

The bank’s personal funding amounted to 18.2 billion pounds by the end of March 2019. The net credit portfolio of the bank reached 38.1 billion pounds.

In addition, the customers’ deposits at the bank stood at 80.5 billion pounds at the end of March 2019, compared to  78.7 billion  pounds  at the end of 2018.

On the other hand, The bank posted a net profit of 932.4 million pounds at the end of the first quarter of 2019, compared to a profit of 809 million pounds at the end of the first quarter of 2018