Banque du Caire to raise SMEs loan portfolio to EGP 14bn year-end

Banque du Caire is planning to increase its small and medium-sized enterprises (SMEs) loan portfolio to 14 billion Egyptian pounds ($868.2 million) at the end of this year, SMEs banking sector’s head Nader Saad told Mubasher on Sunday.

This portfolio earlier stood at 12.5 billion pounds at the end of last September, Saad said.

Also, the lender seeks to inject 1.5 billion pounds loans into SMEs within the fourth quarter of the current year, he added.

The bank currently considers pumping 1 billion pounds in loans to SMEs, Saad said.

Earlier in October, Saad said  Banque du Caire injected EGP 6 billion worth of funding into SMEs during the first nine months of 2019, including 3 billion pounds under the Central Bank of Egypt’s (CBE) SME funding initiative.