Industrial Development Bank eyes 50% increase in customers’ deposits

Industrial Development and Workers Bank of Egypt (IDWBE) seeks to increase its customers’ deposits by 50 percent during 2018, which has recorded 14 billion Egyptian pounds by the end of 2017, Hamdy Azzam, IDWBE’s Executive Board Member.

He told Amwal Al Ghad that the bank seeks to increase its credit portfolio by 35 percent that has recorded 6.5 billion by the end 2017 with a growth rate of 49 percent.

The bank plan will combine between expanding into small and medium-sized, personal, and individual financing sector within the frame work of the bank’s strategy  entitled “retail for society development”.

IDWBE  also seeks to achieve growth rates of 50 percent in the small and medium -sized enterprises sector during 2018 through pumping one billion Egyptian pounds, as well as expanding the bank’s  total amount of funding within the Central Bank of Egypt mortgage initiative. The bank’s funding within the initiative  has registered 350 million Egyptian pounds.