Small and medium-sized enterprises (SMEs) account for 24% of United Bank’s total credit portfolio, which exceeds the 20% target requested by the Central Bank of Egypt (CBE) in January 2018, according to Farag Abdel Hamid, vice chairperson of the bank. United Bank set up three units to finance SMEs. “United Bank has entered into an agreement with i-Score on moveable collaterals, which contributes to opening up new fields for investors as an assurance of financing, and reducing financing risks, which guarantees and protects individual and company rights. The bank additionally organised workshops, in cooperation with the European Bank, for the bank’s team on ideal ways to support SMEs. These services include corporate online banking, which enables clients to manage their accounts from the office and facilitate the conduction of all banking operations remotely.

Source: Daily News Egypt October 28, 2018 07:30 UTC