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Banque Du Cairo seeks to double SMEs portfolio to LE 3.2 bn by end of 2018

Banque Du  Cairo seeks to double the portfolio of small and medium sized enterprises (SMEs) portfolio to stand at LE 3.2 billion by the end of 2018, Deputy Chairman Hazem Hegazy said.

In statements to EBR on Tuesday, he said the bank has an aggressive plan for developing SMEs in line with the Central Bank initiative for supporting SMEs, especially through offering loans at a 5% interest rate.

Hegazy said the bank plans to inaugurate 11 SMEs centers at the bank's branches, including three in Cairo.

He said the bank's office in the UAE will play a pivotal role in this respect as the UAE is a key trade to Egypt.

He noted that the office will facilitate the flow of remittances sent by Egyptian expats into Egypt.

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