Banque Du Caire: Corporate Credit Facilities Registered EGP 11.6 Bln

Banque Du Caire’s portfolio of corporate credit facilities surged by EGP 200 million (1.8%) in Q1 of FY 2012/2013, registering EGP 11.6 billion at the end of last September, compared to EGP 11.4 billion at the end of last June.

The bank targets to expand in financing small and medium enterprises (SMEs) so as to raise the value of finances to the sector to EGP 8 billion in the next three years. The bank also has a micro-enterprises finance portfolio which reached EGP 2 billion; of which EGP 600 million are outstanding finances.

The bank’s strategy in financing SMEs is based on providing such enterprises with credit in a faster way. The bank also plans to expand in retail banking sector through developing the products in which the bank excel, such as the car loan product which seizes 20% of the market share, and the loans offered to state’s employees which seizes 30% of the market share.

Banque Du Caire achieved profit of EGP 201 million in Q1 of 2012, compared to EGP 45 million in Q1 of 2011. The bank’s net returns rose to EGP 434 million in Q1 of 2012, compared to EGP 309 million in Q1 of 2011.