By Mahmoud Salah El-Din
Cairo – Mubasher: The Housing and Development Bank aims at raising SME loan portfolio value to 12%, or EGP1.5 billion, by the end of 2016, said the Chairman Fathy El Sebai.
Within four years, the chairman continued, SME loan portfolio is targeted to constitute 20% of the total granted loans. In parallel, other financings such as large corporates’ lending is to be raised as well, the chairman added on marking SME entrepreneurhship conference.
By the end of 2015, the bank gave the green light to loans and banking facilities worth EGP7.5 billion against EGP6.5 billion a year earlier, as per the bank’s consolidated statements.
Meanwhile, around EGP2.3 billion was lent to large corporates.
Further, the bank seeks to inaugurate five new branches in Egypt, thus having 70 branches all over the country.
Concerning the Social Housing Program, the bank has received 250,000 applications so far, a daily quota of 80,000 ones.
Translated by Ahmed El-Sayed Ali
