Banque Du Caire: Credit Facilities Up To EGP 11.4 Bln
Banque Du Caire’s portfolio of credit facilities surged by EGP 2.5 billion, or 28%, registering EGP 11.4 billion in FY 2011/2012 ended on June 30th 2012, up from EGP 8.9 billion in FY 2010/2011.
A source said the bank targets to expand in financing small and medium enterprises (SMEs) through increasing the value of its portfolio of SMEs finances to EGP 8 billion within three years, compared to EGP 600 million offered to about 250 customers.
The bank has set a new strategy to offer prompt finances catering the needs of such enterprises which are different from that of large companies without risking the bank’s funds, the source noted.
The bank also plans to expand in retail banking products through improving its existing products such as car loan which accounts for 20% of the loans offered by banks and loans offered to state’s employees that own market share of 30%.
