IDBE To Launch Educational Loan By 2012, H2

Industrial Development and Workers Bank of Egypt plans to launch the “education loan” by the second half of the current year with the beginning of the new academic year.

Launching this product is part of the Bank’s plan to expand in retail banking. The retail banking loans increased by EGP 56 million to register EGP 75 million at the end of last April, up from EGP 19 million at the end of last September, Sources told Amwal Al Ghad.

Sources attributed the increase in bank’s retail banking portfolio to new products launched including personal loans offered to public sector and banks’ employees.

IDBE targets to post good growth rates and increase portfolio to EGP 150 million in the second half of the current year, sources added.