Cairo – Mubasher: Banque Du Caire plans to issue around 650,000 cards in 2019, including 450,000 Miza pre-paid cards, the chairman of the state-run lender said on Thursday.

The bank, which is fully owned by Banque Misr— Egypt’s second largest state-run lender, also seeks to open 30 new branches as part of its expansion plan, Tarek Fayed told a press conference on the sidelines of launching the lender’s new brand.

He added that the bank has opened 11 branches providing loans for small- and medium-sized enterprises (SMEs), out of 20 set to be inaugurated by the end of this year.

Fayed also said that the bank plans to list a stake ranging from 20% to 30% of its total shares on the Egyptian Exchange (EGX) and on an international stock market this year.

It is worth noting that the bank posted a 200% year-on-year hike in profits during the full-year 2018, recording EGP 2.5 billion.