(DNE File Photo)
By Raghda Helal
Banque du Caire is targeting an increase of partial loans by EGP 2bn by the end of this year, to come in at a value of EGP 22bn.
Ahmed Hussein, Director of Retail Banking Sector Management in the Car Loans Administration at in Banque du Caire, said the total portfolio for retail loans amounted to EGP 20bn at the end of March.
He added that the bank targets pumping EGP 2bn in new funds for individuals, so that the retail portfolio will reach EGP 22bn at the end of the year, compared to EGP 17bn at the end of 2014.
Hussein pointed out that loans for cars represent 5% out of the total portfolio of retail loans in the bank. He added that 600 cars are funded on a monthly basis. On the other hand, cars portfolio reached EGP 1bn at the end of March, and the bank plans to pump EGP 200m for the portfolio in order for it to reach EGP 1.2bn by the end of this year.
