Egypt’s main agricultural lender, Egyptian Agricultural Bank, announced that its credit portfolio has recorded 26.6 billion Egyptian pounds, according to Elsayed Elkosayer, its chairperson.
He added that the client’s deposits have exceeded 50 million Egyptian pounds.
Elkosayer further told Amwal Al Ghad that 30 percent of the bank’s loans is directed to the Agriculture activity , while 20 percent is directed to the animal production activity.
Egyptian Agricultural Bank seeks a growth rate of 15 percent by the end of the current financial year, Elkosayer noted.
The Egyptian Agricultural Lending Bank was established to provide farmers with loans to protect them from the foreign real estate banks and usurers.
the bank was keen on providing support and funding necessary for farmers for all types of agricultural crops and all activities related thereto as well as providing all banking services and financing small and micro enterprises, natural gas and biogas loans particularly in rural areas.