Banque Misr Eyes 11% Increase In Loans In 2012/13

Banque Misr targets to increase the volume of loan portfolio by 10%-11%, to register EGP 57 billion by the end of FY 2012/2013, up from EGP 52 billion at the end of June 2012, sources said.

Sources added that Banque Misr will achieve such increase through increasing the value of corporate credit portfolio by 12% and raising the value of the retail banking activities by 30%. As the bank focuses on supporting small and medium enterprises (SMEs), the lender plans to raise the value of finances offered to such enterprises by 100%. In addition, the bank considers raising the value of Islamic banking transactions by 60%-70%.

Banque Misr plans to increase the portfolio of deposits by 4%-6% to register EGP 168 billion by the end of FY 2012/2013, compared to EGP 162 billion at the end of FY 2011/2012.