NBE Pumps EGP2.1 bln to Finance SMEs Within 5 Months

Mrs. Soha Suleiman, Head of Small and Medium Enterprises Group (SMEs) at the National Bank of Egypt (NBE) said her bank pumped EGP2.1 billion to finance SMEs within the first five months of this year.

Suleiman has informed Amwal Al Ghad in an exclusive that the bank succeeded to allure more than 4 K new customers during the same period.

Suleiman explained that the volume of cumulative portfolio boosted to EGP9.7 billion, along with regular payment from the customers with value of EGP1.5 billion.

Suleiman pointed out that NBE is aiming to record EGP11 billion by the end of the current fiscal year, noting that there are many negotiations with a number of parties in order to provide products which meet with them including Industrial Modernization Center (IMC) and the Federation of Egyptian Industries.

She further revealed that NBE financed 12 non-governmental organizations (NGOs) in the last period so as to refinance micro entrepreneurs.