Egyptian Gulf Bank Attains EGP3.9bln Loans Portfolio in April-End

By Salma Ayman On May 18, 2014

The total loans portfolio Of Egyptian Gulf Bank (EGB) reached up EGP3.9billion at April end according to Sherif Farouk, the Senior General Manager of the bank.

EGB is targeting to make its portfolio up EGP5billion by the end of the ongoing year.

The Deposit portfolio of the bank reached EGP7.3billion at April end, explaining that the bank seeks boosting it to EGP8.7billion by 2014-end through new products, Farouk added.

EGB targets launching new pot savings in local currency for a period of ten years after receiving approval from the central bank.

EGB attained EGP190million profits at the end of last year against EGP139million at 2012-End.

EGB’s general assembly approved to inch the capital to EGP1.120billion to support its expansion plan, along with the bank aims surging it to EGP1.5billion within the upcoming two years.