Banque Du Caire earmarks 1.5 bln Egyptian pounds for SMEs

By Yomna Yasser On Jul 14, 2016

Egypt’s third biggest public lender, Banque Du Caire seeks to pump more finances in favour of small and medium-sized businesses in the country, its chairman Mounir El Zahid announced Thursday.

The bank has allocated 1.5 billion Egyptian pounds ($169 million) to finance SME projects in the next six months, El Zahid said.

Throughout 2015, Banque Du Caire had secured loans worth 2 billion pounds in favour of SME projects, the banking official said.

“Financing SMEs is one of our top priorities in Banque Du Caire’s 2016 strategy.” El Zahid said.

Banks news Banque Du Caire Egypt Mounir El Zahid small and medium-sized businesses SMEs