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Bank aims to offer EGP 45bn retail loans, EGP 35bn funds for SMEs, says Deputy Chairperson.
26.12.21 | Interesting article at Daily News Egypt

The National Bank of Egypt (NBE) has announced the most important features of its strategic plan for 2022.

Hisham Okasha, Chairperson of the NBE, said that the bank’s strategy for 2021 – 2023 comprised seven main axes: leading the banking sector in Egypt towards enhancing financial inclusion, moving strongly towards consolidating the principle of sustainability in the various activities of the bank, activating the principle of “the customer is the focus of the bank’s attention”, promoting digital transformation, continuing to develop the skills of the bank’s employees, continuing to support the initiatives of the Central Bank, and making better use of the various resources of the bank.

Yehia Aboul Fotouh, Deputy Chairperson of the NBE, revealed that the bank aims to invest EGP 45bn in the retail banking portfolio during 2022, noting that the total retail banking portfolio currently amounts to about EGP 156bn, including EGP 11bn within the initiative of the Central Bank of Egypt for mortgage finance, benefiting more than 100,000 customers. The total funding for the vehicle replacement initiative amounted to about EGP 926m to date, benefiting 3,800 customers.