INTERVIEW: Deposits in Egypt’s NBE surpass $62 bln

Deposits in the National Bank of Egypt (NBE), Egypt’s biggest public lender, are worth more than 550 billion Egyptian pounds ($62 billion), said retail head Alaa Farouk on Sunday.

Customer loan portfolio has surged to 37.7 billion pounds by the end of May, from 36.5 billion pounds in December 2015, Farouk said in an interview with Amwal Al Ghad on Sunday.

The banking official further added that NBE’s portfolio of car loans had recorded 1.65 billion pounds by the end of May, from 1.6 billion pounds by the end of December 2015.