Banque Du Caire mulls SME loans of EGP5.5bln in 2020
Banque Du Caire considers injecting loans worth 5.5 billion Egyptian pounds into small- and medium-sized enterprises (SMEs) in the Egyptian market during 2020, the lender’s head of SME banking sector, Nader Saad told Amwal al Ghad.
He added that the SMEs portfolio has posted 14.5 billion pounds by the end of 2019, while it aims at achieving SMEs portfolio of 20 billion pounds during 2020.
Funding provided to SMEs accounts for about 19 percent of the bank’s total credit portfolio, the top official revealed. A percentage close to what is set by the Central Bank of Egypt initiative.
H e also noted that Banque du Caire is working on developing new solutions and financing programmes based on the value chain that suits different projects and economic activities that support Egypt’s economy, while setting a comprehensive plan to restructure the sector.