Barclays Egypt Plans EGP800 million Personal Finances in 2015

Barclays Bank Plc is planning to increase its personal finance activities in Egypt throughout 2015.

In this respect, Hazem Hegazy – Director of Barclays Egypt’s Retail and Branches Sector – has revealed on Tuesday to Amwal Al Ghad the bank’s plans to pump around 800 million Egyptian pounds (US$111.8 million) worth of personal funding within 2015.

Barclays Egypt’s portfolio of personal loans has reached around 2 billion pounds by end of the current year, Hegazy noted.

According to the banking official, Barclays is seeking to expand its retail banking activities in Egypt, eyeing a greater market share in the Egyptian banking sector.

Meanwhile, the bank expects to realize 490 million pounds (US$68.5 million) worth of profits in Egypt by end of 2014, compared to 425 million pounds (US$59.4 million) last year, chief of staff Shady Kamal said in an earlier statement.