NBE: EGP330 bln Customers’ Deposits, EGP23.7bln Retail Loans in 2013-End

Head of retail banking and branches for NBE, Hazem Hegazy revealed that the customers’ deposit portfolios registered EGP330 billion at the end of the first half of the current fiscal year of 2013/2014 against EGP322 billion at the end of the last fiscal year of 2012/2013.

Hegazy has informed Amwal Al Ghad in an exclusive that the retail banking loan portfolios reached EGP23.7 billion at December2013, compared to EGP22 billion at the end of the last fiscal year, pointing out that his bank is aiming to increases its portfolio by EGP27 billion within the next June.

He added that the bank inaugurated five branches during the first half of13/14 and it is planning to open 20 branches by June2014, asserting that his bank has developed 35 branches in the last period.

The bank will seek to specialize places of NBE’s subsidiaries to serve the customers as their deposits exceeded more than EGP 500K and to develop this services in order to comply with the foreign banks and to boost the numbers of branches to become 65 branches within 3 years.

He explained that NBE is seeking to record 70%  of the credit portfolio and to seek to increase the retail credit portfolio  and 30% for Small and Medium Enterprises(SMEs), noting that Participation rate of retail banking profit of the bank up 25%.

The bank is aiming to launch new 330 ATMs during the current fiscal year so as to increase ATMs to become 1550 which affiliated to the bank, explaining that the bank will work to increase the submitted services through ATMs.