By: Ahmed Allam
Cairo - Mubasher: Emirates NBD - Egypt announced on Monday in a press release launching a specialised unit for financing small and medium enterprises (SMEs).
The bank aims at increasing its SME’s financing portfolio within the next three years to reach 10% of the bank’s total portfolio by the end of 2017, and 20% by the end of 2019.
This policy comes in line with the instructions of the Central Bank of Egypt (CBE), said Hany El-Shamy, the head of the small and medium enterprises sector at Emirates NBD - Egypt.
El-Shamy also said that the bank plans to increase its branch network to 100 branches by 2020.
Translated by: Moslem Ali
