Egyptian Gulf Bank Eyes Assets Rise to EGP15 billion at end-2016

The Egyptian Gulf Bank (EGB) is targeting an increase in total assets to EGP 15 billion (US$2.1 billion) by the end of 2016.

EGB’s total assets stood at EGP 9.8 billion at 2013-end.

As pursuant to a three-year plan, EGB would pump EGP 4 billion in its credit portfolio to eventually reach EGP 9 billion, compared to EGP 5 billion at 2013-end, Executive Chairman Mohamed El Etreby told Amwal Al Ghad.

“EGB aims to allure deposits worth EGP 5 billion until 2016 to eventually register a size of EGP 13 billion, up from EGP 8 billion by 2013-end.” El Etreby noted