Bank Audi-Egypt clients’ deposits exceed $4bn end-September

Clients’ deposits portfolio of Bank Audi-Egypt has exceeded 33 billion Egyptian pounds (US$ 4.1 billion) at the end of September 2015 versus 31.9 billion pounds at the end of June 2015.

Speaking to Amwal Al Ghad, Mohamed Abbas Fayed – bank’s vice chairman and managing director- said Wednesday that loan portfolio recorded around 16 billion pounds at the end of September 2015 compared to 15.1 billion pounds at the end of June 2015.

Fayed previously stated that the bank targets executing a plan to be among the largest five banks in Egypt’s banking sector within 3-4 coming years through expanding in retail sector, loans, Small and Meduim-sized Enterprises (SMEs), micro enterprises, and Islamic finance.

Bank Audi- Egypt owns 34 branches and aims at inaugurating 6-7 new branches before the end of 2015.

The total volume of Bank Audi-Egypt’s capital is estimated at around 1.8 billion pounds.