IDWBE-Egypt Pumps EGP1.2bln in Personal Loan Portfolio within 3 Years

Industrial Development and Workers bank of Egypt (IDWBE) pumped EGP1.203 billion in personal loan portfolio within the period from June2011 and till 2014.

Chairman of Board of Directors of the bank Hamdy Azzam said his bank attained 38% growth in credit portfolio during the last years to close at EGP4.350 billion.

IDWBE registered EGP155 million at the end of 2013 against EGP70million at 2012-end , aiming recording EGP175million by the end of the current year.

The bank has recently signed two contracts with the Social Fund for Development (SFD) worth EGP100million , EGP75million for financing the current account in debtor including withdraw and deposit and EGP25million contract for livestock and food processing projects.