NBE Pumped EGP 10 Bln For SMEs in 3 Years

National Bank of Egypt (NBE) has injected EGP 8.9 billion to finance the Small and Medium Enterprises over the last three years, bank’s Head of SMEs told Amwal Al Ghad on Monday.

Soha Soliman – Head of SMEs at NBE – noted that the bank’s SME finance portfolio has reached EGP 8.9 billion by the end of last May, compared to EGP 4 billion recorded in June 2010, representing an increase of EGP 5 million,.

She further pointed out that NBE’s portfolio of the non-performing loans as regard to the SME finance have hit EGP one billion, explaining that the bank is developing a firm plan in order to get rid of those debts within the upcoming period.