NBE’s Retail Banking Portfolio Posts EGP 18.7 Bln Last March

National Bank of Egypt (NBE)’s retail banking portfolio rose by EGP 200 million, registering EGP 18.7 billion at the end of the third quarter, compared with EGP 18.5 billion at the end of last December.

Hazem Hegazy, head of retail banking and branches, told Amwal Al Ghad that NBE targets increasing retail banking portfolio to EGP 19.5 billion at the end of the current fiscal year through offering new banking products such as durable goods loans by June.

NBE disbursed 46.064 yellow remittances with value of EGP 172 million in the last nine days. Disbursing yellow remittances were 46% in North Egypt, 24% in South Egypt, 14% in Cairo, 11% in Alexandria and 5% in Suez Canal region.

NBE achieved 14% profit growth in the year ended June 30th 2011 as the net profit reached EGP 2.1 billion, an all-time high record.

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