Banque Du Caire Eyes EGP1.25 Billion Microfinances within 2014

Big 5

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.