During a roundtable held by the bank on Tuesday, Drion said that the money was raised to cover its clients’ demands of foreign currency for imports. In another matter, Drion said that the number of its clients in Egypt reached some 360,000 clients. According to Drion, the bank has achieved a 51.6% growth in profits in the first quarter of the current year, reaching EGP 475.1m. The loan portfolio rose to EGP 18.786bn at the end of the first quarter, up from EGP 15.059bn at the end of the first quarter of 2016. He pointed out that the bank aims to reach the ratio of 20% set by the CBE for 2020.

Source: Daily News Egypt May 16, 2017 15:45 UTC