IDBE’s Total SME Finance Portfolio Hit EGP520 by Oct-end

By Yomna Yasser On Nov 25, 2013

The Industrial Development and Workers Bank of Egypt (IDWB) said on Monday its SME direct and indirect finance portfolio registered around EGP 520 million by the end of October 2013.

Hamdi Azzam, Board Member at IDWB, told Amwal Al Ghad that the bank’s SME direct finance portfolio recorded EGP 435 million; whereas the size of the indirect funding provided by the bank to the SMEs in forms of letters of guarantee and credit had hit EGP 85 million.

Azzam further said IDWBE had recently granted Assiut Business Association (ASBA) a funding worth EGP 25 million, aiming to finance the micro projects in the governorate.