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Banque Du Caire acquires the largest portfolio of micro-enterprises finance in Egypt as it reached EGP 2 billion; of which EGP 600 million are outstanding, said Mounir El-Zahed, chairman of the bank.
The bank raised credit rate by 20% in the last nine months, he continued, expecting that it will witness slight increase by the end of the year.
Banque Du Caire allocated enough provision against possible losses of the loan that was offered to MOPCO last January.
El-Zahed expected the bank to achieve the same growth rate in Q2 as that it achieved in Q1. The bank achieved profit of EGP 201 million in Q1, compared to EGP 44 million in a year earlier.
