Banque Misr eyes Personal Loans up to EGP9 billion at June-end

Egypt’s second largest bank Banque Misr is planning to increase its portfolio of personal financing to 9 billion Egyptian pounds (US$1.2 billion) by late June 2015, an official announced today.

According to Yehia El Agamy – Head of Retail Banking Division, the bank’s portfolio of personal financing stood at 7.2 billion by end of June 2013.

El Agamy further told Amwal Al Ghad on Wednesday that Banque Misr plans to increase the number of ATM machines to 2300 by end of June 2015, from 1300. It also targets boosting its network of branches to exceed 500 branches nationwide.

Moreover, the banking official also referred to Banque Misr’s strategy to increase points of sales (POS) catering to diversified service offering from 12.000 to 14.500 by end of June 2015.

Banque Misr offers clients multiple loan programmes including mortgage, durable goods, cars, and credit cards.