By: Islam Fadl
Cairo – Mubasher: The National Bank of Egypt (NBE) is planning to pump EGP 15 billion into its retail banking portfolio during the fiscal year 2019/2020, retail CEO at the bank Alaa Farouk stated on Tuesday.
The bank’s retail banking portfolio has reached EGP 85 billion and is planned to hit EGP 100 billion by the end of June 2020, Farouk added.
The top official revealed that the bank has granted EGP 8 billion finance to 80,000 customers under the Central Bank of Egypt’s mortgage finance initiative for the low income.
NBE is currently holding 13 million meeza cards, including 1.6 million payroll cards for the public sector and 2 million payroll cards for the private sector, Farouk said.
The bank’s small and medium-sized enterprises portfolio amounted to EGP 72 billion at the end of October 2019, he added.
