Egypt’s Banque du Caire aims to expand its financing for small and medium-sized enterprises (SMEs) to 22 billion Egyptian pounds ($1.4 billion) by end of the year, a senior official said
The bank, Egypt’s third largest public state-lender, has registered SME financing worth 18 billion pounds at the end of June, its head of SME banking sector Nader Saad said at an economic conference in Cairo.
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SMEs are capturing a 17.5 percent share of Banque du Caire’s total financing, Saad noted, saying the bank plans to raise to the share to 25 percent by 2022.
The bank has committed 9 billion pounds in loans to SMEs as part of the Egyptian central bank’s initiative, he added.
