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Banque Misr’s SMEs portfolio reach LE10bn by May 2018

Banque Misr’s SMEs portfolio reach LE10bn by May 2018

Cairo: Egypt’s Banque Misr funding portfolio for Small and Medium-sized Enterprises (SMEs) hit 10 billion Egyptian pounds (US$ 561 million) by the end of May 2018, vice chairman Akef El Maghraby said.

He told Amwal Al Ghad that the number of beneficiaries of SMEs funds has reached 70.000 clients.

He also expected that the volume of the SMEs portfolio would register 25 billion Egyptian pounds by the end of financial year 2018/2019 and 45 billion pounds by the end of FY 2019/2020.

The volume of SMEs portfolio has posted 8 billion pounds by the end of December 2017. Thus the portfolio’s volume has increased 31 percent in 5 months.

Source: Amwal AlGhad

 

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