Banque Misr’s SME Finances Hit 72% Up In FY 2011/12

Banque Misr’s SME finance portfolio grew 72% in FY 2011/2012, thanks to the bank’s continuous support to small and medium enterprises through its branches spread across all governorates in Egypt, said a statement released by the bank.

The bank offers loans with values ranging from EGP 1000 to EGP 25,000 to micro-enterprises, as part of its role in combating unemployment and developing the society.

In addition, the bank has played an effective role in financing companies through arranging and contributing to syndicated loans worth EGP 15.3 billion as the bank contributed EGP 4.4 billion and assigned banks to contribute EGP 2 billion to these loans in FY 2011/2012.