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Banque Du Caire mulls huge SME loans

Banque Du Caire mulls huge SME loans

Cairo: Banque Du Caire considers injecting loans worth EGP 3 billion to small- and medium-sized enterprises (SMEs) in the current period, the lender’s head of SME banking sector, Nader Saad, told Mubasher.

The bank is currently mulling financing 800 SMEs with about EGP 3 billion, Saad added.

In addition, the state-run bank plans to raise its SME portfolio to EGP 6 billion by the end of 2019 from EGP 4.4 billion at the end of May, he noted.

Funding provided to SMEs accounts for about 16% of the bank’s total credit portfolio, the top official revealed.

More than 90% of the bank’s SME loans are part of the Central Bank of Egypt’s (CBE) initiative, he said. Source: Mubasher

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