Attijariwafa Bank to increase its corporate portfolio to EGP15 bln in 2019

Attijariwafa Bank Egypt seeks to increase the credit portfolio of medium and large enterprises to 15 billion pounds by the end of 2019, the head of corporate and investment banking at Attijariwafa Bank told Amwal Al Ghad.

The credit portfolio of medium and large enterprises recorded 11.4 billion pounds by the end of December 2019, Tamer Yousri Ragheb added.

He further noted that the bank seeks to include 70 new clients of the large enterprises to the bank’s customer base during the current year.

Food, healthcare, renewable energy, and tourism sectors are among the top sectors to be financed by the bank, Ragheb noted, adding that the construction and building sector as well as the weaving and textiles sector will also be financed due to their accelerated growth rates.

With plans to increase the number of customers, Attijariwafa Bank considers offering  new banking products that target exporters especially those working in African markets, Ragheb said.

On the other hand, The bank is considering providing finances worth more than 2 billion pounds  to several sectors including food, healthcare, renewable energy, tourism, and information technology (IT), he added.

Additionally, the lender mulls over financing the food production sector with 750 million pounds.

In 2018, the bank contributed  1.7 billion  pounds to syndicated loans, the head of corporate and investment banking  added.