By: Islam Fadl

Cairo – Mubasher: Banque Du Caire has pumped around EGP 2.9 billion into the Central Bank of Egypt’s (CBE) initiative for the small- and medium-sized enterprises (SMEs) launched in 2016, vice chairman said.

The contribution of Egypt’s third-largest state-run lender in the SMEs portfolio accounts for 70% of total investments worth EGP 4 billion year-to-date, Hazem Hegazy added.

He noted that the bank came in the third spot among the banks taking part in the initiative.

Hegazy previously stated that Banque Du Caire was aiming to raise the SME portfolio to EGP 30 billion in 2022.

Translated by: Mai Ezz El-Din