NBE to Issue ‘Remittance Cards’ to Ease Stress on Branches

Hazem Hegazy, GM-Retail Banking Group Head at National Bank of Egypt (NBE), has revealed that his bank is aiming to issue ‘Remittance Cards’ in order to make the customers will be enable to receive or send remittances from abroad throughout Automatic Teller Machine ‘ATM’ .

Hegazy added that ‘Remittance Card’  will contribute in reducing the stresses of the Banks’ branches by receiving the remittance from abroad through the ‘ATM’ and this after a message will deliver to the person’s phone.

Hegazy has emphasized that the remittance of the Egyptian abroad rose 3-times in compared to the last years, and registered EGP 18 billion in the last fiscal year, in addition, NBE is seizing the major ratio of the remittance.

The loan portfolio of NBE has hit EGP 22 billion, recording EGP 3.5 billion in compared to the last year.

NBE is adopting an expansion strategy within the coming three years in Retail Banking sector and Small and Medium Enterprises (SMEs) to diversify the credit portfolio, which reduce the risks and contributes to the stability of the portfolio.