By Ramy Samih:
Cairo-Mubasher: ALEXBANK (a member of the Intesa Sanpaolo Group) is targeting 10% growth in its retail portfolio during 2015, said Basil Rahmy, president of the Retail Banking Sector and Small and Medium Enterprises.
“We have achieved an increase in the bank’s portfolio by around EGP 1.5 billion last year to reach EGP 12 billion, compared with EGP 9.5 billion in 2013,” the official said, in a press conference held Monday in Cairo.
The bank’s retail portfolio includes personal banking, mortgage and credit services.
Despite facing difficulties in 2014 due to the country’s unrest, ALEXBANK successfully recorded last year the strongest figures in past years, according to the official.
He added that conditions in Egypt are improving, especially in the banking sector.
The North African country has been hit by political and economic instability following the toppling of former president Mubarak in 2011 and the ouster of Islamist president Mursi in 2013.
Rahmy also said the bank will participate strongly in the upcoming economic summit planned for next March in Sharm El Sheikh to woo global investors.
Translated by Sayed Abdel Rahman
Photo Credit: Arabianeye-Reuters