By: Eslam Fadl
Cairo – Mubasher: Banque Du Caire is looking to pump around EGP 2 billion into retail banking and microfinance within two months and a half, the bank’s vice chairman said.
Egypt’s third-largest state-run lender is aiming to raise its retail banking and microfinance portfolio through this investment to reach EGP 25 billion by the end of this year, Hazem Hegazy told Mubasher in a phone call.
He noted that the volume of the portfolio stood at EGP 23 billion since the beginning of the year until mid-October.
The Egyptian lender is planning to launch the services of online banking and mobile banking for its clients in March, Hegazy indicated.
He also added that Banque Du Caire has 218 branches now and is planning to open 15 new branches in the first quarter of 2019.
The bank has no smart branches until now, but it aims to establish them in the first half of the next year, Hegazy remarked.
Translated by: Mai Ezz El-Din
