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Emirates NBD launches new SMEs unit in Egypt

Emirates NBD launches new SMEs unit in Egypt
One of Emirates NBD branches in Dubai - (Photo Credit: Arabianeye-Reuters)
Emirates NBD
EMIRATESNBD
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By: Ahmed Allam

Cairo - Mubasher: Emirates NBD - Egypt announced on Monday in a press release launching a specialised unit for financing small and medium enterprises (SMEs).

The bank aims at increasing its SME’s financing portfolio within the next three years to reach 10% of the bank’s total portfolio by the end of 2017, and 20% by the end of 2019.

This policy comes in line with the instructions of the Central Bank of Egypt (CBE), said Hany El-Shamy, the head of the small and medium enterprises sector at Emirates NBD - Egypt.

El-Shamy also said that the bank plans to increase its branch network to 100 branches by 2020.

Translated by: Moslem Ali