PBDAC Eyes Alluring EGP5 bln New Deposits in FY14/15

Principal Bank for Development and Agricultural Credit (PBDAC) Chairman Attia Salem revealed that the bank is targeting alluring new deposits worth EGP5 billion, so that the total value of deposits portfolio eventually will record EGP35 billion by the upcoming fiscal year of 2014/2015 against EGP30 billion during the ongoing year.

Speaking to Amwal Al Ghad, Salem added that the increase in deposit portfolio will be directed to Productive projects which the bank will finance it including veal, beef, poultry and agricultural loans and other loan programs which will be provided by the bank  to boost credit portfolio to EGP21 billion.

The bank aims amending the credit system of the bank to increase its effectiveness in the coming period and according to the rules specified by the Central Bank of Egypt (CBE).

Principal Bank for Development and Agricultural Credit (PBDAC) Chairman Attia Salem revealed that the bank is targeting alluring new deposits worth EGP5 billion, so that the total value of deposits portfolio eventually will record EGP35 billion by the upcoming fiscal year of 2014/2015 against EGP30 billion during the ongoing year.

Speaking to Amwal Al Ghad, Salem added that the increase in deposit portfolio will be directed to Productive projects which the bank will finance it including veal, beef, poultry and agricultural loans and other loan programs which will be provided by the bank  to boost credit portfolio to EGP21 billion.

The bank aims amending the credit system of the bank to increase its effectiveness in the coming period and according to the rules specified by the Central Bank of Egypt (CBE).

PBDAC ‘s board of directors received a delegation from the World Bank in order to discuss the possibilities of international financial institution to undertake a comprehensive study to underline the key points on which the restructure plan would be based.