Cairo – Mubasher: The Egyptian Agricultural Bank seeks to boost its deposits to reach EGP 41 billion by the end of 2016, said Khaled Fouad, Head of marketing.
The lender also works on increasing its portfolio of loans by EGP 2 billion to reach EGP 25 billion by end of 2016, noted Fouad on the sideline of economic conference.
The value of the bank’s portfolio of small and medium projects stands currently at EGP 14 billion, but its management seeks to raise it to EGP 16 billion by end of 2016, added Fouad.
Earlier, President Abdel Fattah al-Sisi issued a presidential decree to rename the Principal Bank for Development and Agricultural Credit (PBDAC) to the Egyptian Agricultural Bank and to put it under the supervision of the Central Bank of Egypt (CBE)
