By: Islam Fadl
Cairo –Mubasher: Banque du Caire plans to inject EGP 1.5 billion loans into small- and medium-sized enterprises (SMEs) during the fourth quarter of 2019, the bank’s head of SME banking sector Nader Saad told Mubasher on Sunday.
The bank aims to increase its SME loan portfolio to EGP 14 billion by the end of this year from EGP 12.5 billion at the end of last September, Saad added.
Currently, the bank considers pumping EGP 1 billion in loans to SMEs, he noted.
Earlier in October, the head of SME banking sector revealed that Banque du Caire injected EGP 6 billion worth of funding into SMEs during the first nine months of 2019, including EGP 3 billion under the Central Bank of Egypt’s (CBE) SME funding initiative.
During the first half of 2019, the bank’s profit before taxes grew to EGP 2.5 billion, compared to EGP 1.91 billion in H1-18.
Translated by: Zeinab Adel
