Bank Audi Egypt is planning to increase the size of its loans portfolio by EGP 4.5bn by the end of 2017, according to Mohamed Fayed, deputy chairperson and managing director of the bank. Fayed told Daily News Egypt that the amount planned to be injected to the bank’s loans portfolio will include EGP 2bn to be allocated to small and medium-sized enterprises (SMEs). He added that the financing ratio directed to these projects registered 6% of the bank’s total loans portfolio, compared to only 1% in 2015. Fayed revealed that the bank has achieved a 30% growth in its loans portfolio during 2016, to record EGP 30.3bn. The public sector companies and public business sector account for roughly 15% of the loans portfolio.

Source: Daily News Egypt March 19, 2017 06:00 UTC