Emirates NBD to launch new SME unit in Egypt next week

Emirates NBD will be launching in Egypt a new division for the small and medium sized industries by next week, said General Manager of Retail Banking and Wealth Management, Fredrick de Melker on Monday.

The Egyptian arm of the UAE lender is determined to focus on funding micro, small, and medium-sized projects in the country in the coming period in line with the Egyptian government and central bank’s strategies that support this sector, De Melker told Amwal Al Ghad.

De Melker further said his bank intends to open up 30 new branches in Egypt in the coming three years, to eventually have a total network of 100 branches across the country.