ArabFinance: Banque du Caire (BDC) (BQDC) is considering participating in the establishment of the Pyramids Company for investment in small- and medium-sized enterprises (SMEs) with a sum ranging between EGP 25 million and EGP 50 million, Al Mal newspaper reported, citing Head of Investments at BDC Mohamed Ragai.

The Pyramids Company’s capital amounts to EGP 500 million, the newspaper reported.

The Chairman of Pyramids Company Neveen El Tahri previously told Al Mal that the company targets investments’ volume of over EGP 1 billion, in collaboration with a number of banks, in the coming three years.

It is worth noting that the Financial Regulatory Authority (FRA) has approved the establishment of the Pyramid Private Equity Co, with an initial capital of EGP 10 million.

BDC, the 99.9%-owned by Egypt's second-largest state-owned bank Banque Misr, is the sixth-largest bank in Egypt in terms of total assets, acquiring a 3% market share in system-wide loans and deposits.

The bank also has the third-biggest customer base, with over 3 million customers.