Banque Du Caire Offers EGP 5 Bln Micro-Finances

Banque Du Caire has offered about EGP 5 billion worth of about one million loans to more than 360, 000 customers owning micro-enterprises, said Mounir El-Zahed, chairman of Banque Du Caire, adding that the value of each loan reaches about EGP 50,000. This is part of the bank’s efforts in boosting the national production and improving the Egyptian economy.

El-Zahed confirmed that the bank supports infrastructure, developmental and social projects through contributing to syndicated loans offered to the most important investment projects in Egypt which support the national economy. The syndicated loans accounted for 33% of the bank’s loan portfolio as it registered EGP 5991 billion. These loans were directed to support strategic economic sectors such as housing, petrochemicals, petroleum and electricity sectors.

The bank stated in a statement today that it focuses in retail banking sector as it offers a number of unique products which caters to the needs of the customers such as the credit cards which meet the needs of the Egyptian banking sector and can be used inside and outside the country and also provide seasonal offers and discounts.

Banque Du Caire has achieved high growth in car loans as the bank has became a leader provider of car loans in Egypt as it achieved growth rate of 10% in the value of car loans in the Egyptian market.

In addition, Banque Du Caire offers a number of certificates of deposit such as Brimo certificates in Egyptian pound and Brimo Dollar certificates with quarterly fixed and variable returns with terms ranging from three to five years with competitive returns. The bank has launched a new deposit which is Al Masry Al Aseel Deposit that gives the customers the opportunity to donate not less than 50% of the deposit’s return to charity.

Banque Du Caire achieved net profit of EGP 201 million and return on equity of 29.7% in Q1 of 2012, registering a record.