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The National Bank of Egypt’s (NBE) SME direct and indirect finances registered EGP 8.9 billion and EGP 1.4 billion respectively at the end of 2012.
Soha Soliman, head of SME finance sector at NBE, revealed to Amwal Al Ghad that the bank offered finances worth EGP 2.5 billion during the first six months of 2012, adding that the net loan portfolio reached EGP 1.3 billion, resulting from debt repayments. The bank raised its customer base by 9,700 new customers by the end of last December.
NBE targets to increase the value of SME finance by EGP 4 billion by the end of FY 2012/2013, to raise the value of net outstanding loans to EGP 2 billion by the end of June 2013 after loans’ repayments.
