Banque Du Caire attracts 50,000 clients to microfinance portfolio

Egypt’s third biggest public lender, Banque Du Caire, has attracted 50,000 new clients to Micro finance portfolio during 2018, according to Chairman Tarek Fayed.

He told Amwal Al Ghad that Micro finance portfolio has reached 4 billion pounds to 200,000 clients by the end of December 2018, increasing from 2.2 billion pounds by the end of 2017.

He added that Microfinance contribute to provide immediate employment opportunities, and supports the development of the national economy.

Chairman of Banque du Caire Tarek Fayed said that the bank will double loans financing small- and medium-sized enterprises (SMEs) within the framework of the Central Bank of Egypt’s (CBE) initiative to expand SME loan portfolio.

Fayed said Banque du Caire is proceeding with a plan to achieve this target that will in turn help develop the Egyptian industry and stimulate new industries that could help substitute imports and beef up exports