NBE’s Personal Loans up EGP25 bln, EGP335 bln Deposits at March-End

The total customers’ deposit portfolio of the National Bank of Egypt (NBE) reached up EGP335 billion at the end of the third quarter of the current year 2013/2014, compared to EGP330 billion at the end of the first half of the same year.

The personal loans registered around EGP200 billion in the same time when the total personal loans boosted to EGP25billion at the end of the third quarter of 2014, seeking to increase it to EGP27 billion by 2014-end , Hazem Hegazy, Head of Retail Banking and Branches of the National Bank of Egypt (NBE) illustrated.

Hegazy told to Amwal Al Ghad Arabic’s Website that the numbers of money transfer via mobile phone service which launched by the bank with Etisalat Egypt inched to 22.000 clients, expecting to increase within the next period.

The bank’s strategy aims supporting NBE’s branches network with new 20 subsidiaries during the ongoing fiscal year, and the bank will be seeking in the coming phase to allocate locations to serve major customers who their deposits exceed EGP500.000 and the develop this service to be similar to the foreign banks with a unique service beside providing distinct service including the new products and special offers, Hegazy explained.

Moreover, he noted that the new service will be applied in 6 branches as a beginning, 2 branches in Alexandria and 4 branches in Cairo, to become 65 branches within three years and it targets boosting the clients’ numbers to 5 million during 3 years instead of 3.5 million.