By: Islam Fadl

Cairo – Mubasher: National Bank of Egypt’s (NBE) retail portfolio has exceeded the target, registering EGP 70.3 billion at the end of April, the lender’s head of retail products and sales group said.

NBE’s retail portfolio includes EGP 48 billion of personal loans and EGP 4.9 billion of credit card debt, Alaa Farouk told Mubasher on Monday.

Real estate loans account for EGP 7 billion of the portfolio, including EGP 6.7 billion of loans under the Central Bank of Egypt’s (CBE) mortgage finance initiative, he added.

NBE, the nation’s largest state-run bank, has about 461 branches and four electronic branches, Farouk revealed, adding that the bank aims to inaugurate 50 branches and 25 electronic branches in fiscal year 2019/2020.

Translated by: Zeinab Adel