NBK-Egypt sees 20% growth in loans by 2018

Big 5

National Bank of Kuwait, the country’s largest lender, expects 20 percent growth in loans in Egypt in 2018 because of a widely-expected decline in interest rates and a recovery in economic growth, Yasser Hassan, Managing Director at NBK Egypt, told Bloomberg in an interview.

The bank’s Egyptian unit plans to have 4 to 5 new branches in the most populous Arab country next year, he said.

A “large chunk” of this increase will be to small- to medium-enterprises, as well as retail and big companies, he said.

Source: Bloomberg