Barclays Egypt to boost Corporate Portfolio to EGP5 billion at 2015-end

Barclays intends to boost its corporate portfolio in Egypt to 5 billion Egyptian pounds (US$655.25 million) by the end of 2015, chief of staff Shady Kamal said.

The bank’s corporate portfolio reached 3 billion pounds by the end of 2014.

The banking official further referred that Barclays Egypt’s portfolio for the small and medium-sized enterprises (SMEs) projects stood at 600 million pounds by 2014-end amid plans to increase it to 700 million pounds late 2015.

Moreover, Barclays Egypt has growth plans for its retail loan portfolio to become 2.6 bilion pounds at 2015-end, from 2 billion pounds at 2014-end, Kamal noted.

The banking official concluded by saying that Barclays Egypt is keen to finance developmental projects in the country, notably in sectors of oil, electricity and petrochemicals.