SAIB : Total Individuals’ Funds Hit EGP 540 Mln

The total value funding in Societe Arabe Internationale De Banque (SAIB) reached EGP 540 million by the end of June 2013.

An official source of the bank said the car loans captured the largest rate with EGP 145 million, followed by personal loan with EGP 65 million and finally mortgages.

The total funding for the companies and institutions are around EGP 4 billion from the total loan portfolio which is approaching EGP 6 billion.

The bank is currently studying the offer of products, most notably is ‘lease ending into ownership’ which  enables individuals for owning the property  after finishing the lease, the approval was obtained by the Shari’ah Supervisory Broad of the bank and the Central Bank of Egypt (CBE) is in its underway to approve.