NBE Targets EGP16bn increase in SMEs Portfolio by June 2015: VP

By Salma Ayman On Oct 15, 2014

Vice President of National Bank of Egypt (NBE) Mahmoud Montasser asserted that the bank is aiming to record EGP16 billion in SMEs portfolio by June 2015 in compared to EGP13 billion.

In statements to Amwal Al Ghad, Montasser added that there are 64 projects which transited from small projects into medium projects after their activities and sales have been increased.

Moreover, he emphasized that the bank has allocated 50.000 for financing in formal sector in the light of the bank’s desire to increase the rates of official sector.