NBE Eyes EGP35bln Personal Loans by FY14/15

The National Bank of Egypt (NBE) targets achieving EGP35 billion personal loans by the end of the current fiscal year 2014/2015, against EGP27 billion expected funds by the end of the current FY13/14, Hazem Hegazy head of retail banking sector at NBE said.

Retail banking activity has witnessed a great improvement in the recent period, Hegazy explained.

NBE eyes focusing on all products including personal, vehicles loans and credit cards along with electronic payments, Hegazy noted.

Furthermore, the bank seeks expanding geographically within the upcoming three years through inaugurating 50 branches annually to make its branches’ network become more than 500 subsidiaries by 2017-end.