Banque Du Caire Eyes EGP1.25 Billion Microfinances within 2014

By Yomna Yasser On May 21, 2014

Banque Du Caire S.A.E. targets pumping new financing worth over EGP 1.250 billion in microprojects sector within the current year, CEO Mounir El-Zahed said on Tuesday.

According to the banking official, the bank is also planning to inaugurate 5 new units for the micro lending.

Banque Du Caire’s market share in microfinancing reached 49% in 2013, El-Zahed added in a statement on Tuesday. The lender’s total microfinances totalled EGP 7.1 billion which went for funding 1.2 million loans for microprojects.