ABC-Egypt to Expand SME Lending Activities to EGP250mn at 2015-end

By Yomna Yasser On Nov 9, 2014

The Arab Banking Corporation – Egypt (ABC) plans to increase its loan portfolio for the small and medium-sized enterprises to EGP 250 million by end of 2015, said MD and CEO Akram Tinawi.

ABC is targeting a three-year strategy involving higher portfolios of corporate loan to EGP 4 billion (from EGP 1.5 billion) and of personal loan to EGP 2 billion (from EGP 850 million). In addition, the bank plans within three years from now to double the number of clients to eventually reach 100.000 and to ensure greater presence through having 40 branches.