حفلة 2024

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.

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