HSBC Egypt’s Credit Portfolio hits $3bln end Q1 – Official

HSBC Egypt’s credit portfolio has recorded EGP 21.7 billion (US$ 2.8 billion) at the end of first quarter, Amr EL Bahey – Head of Large Corporates- said on Monday. 

El Bahey made these remarks during a press conference held by HSBC on Monday.

The head noted that bank’s portfolio of corporate financing is estimated at EGP17 billion (US$ 2.2 billion) while the portfolio of personal funding hit EGP 3.7 billion (US$485 million).

HSBC intends to boost the growth in credit portfolio substantially within 2015 and participate in a number of financing operations as a lead coordinator, El Bahey asserted.

Furthermore, El Bahey clarified that among bank’s priorities is to fund a number of sectors like infrastructure, power, electronics, construction and building, and real estate.

Moreover, El Bahey pointed out that HSBC is currently arranging for a joint fund in power field.