The Housing and Development Bank’s (HDB) portfolio of SME finance stood at EGP 200 million at the end of last September.
The bank’s portfolio of loans and credit facilities registered EGP 7 billion at the end of September, up from EGP 5.95 billion at the end of Q2 of 2012, said Fathi El Sebaey, chairman of the bank.
On the sidelines of Euromoney Conference, El Sebaey added that bank’s portfolio of non-perfuming loans accounted for 7% of the total value of the bank’s portfolio and the bank targets to reduce it to register 5% of the total value of the portfolio.
The loan-to-deposit ratio exceeded 78% at the end of last month as the portfolio of deposits surged by EGP 1.4 billion, registering EGP 9 billion, up from EGP 7.55 billion at the end of last June, he noted.
Settling bad debts has proven to be a right step toward reducing the non-performing loans, he continued, stressing that the government shall be committed to its contractual obligations in order to attract more investments.
HDB’s consolidated results showed that it reported net profit of EGP 157.72 million in the first half of 2012, up from EGP 61 million in the first half of 2011, with an increase of 158%.
