The Commercial International Bank (CIB) aims to increase the number of small- and medium-sized enterprise (SME) customers to reach 70,000 to 80,000 customers in the next four years, according to Rashwan Hassan Hamdy, head of banking services sector of the CIB.
During the SMEs conference on Monday, held by the Banking Institute, Hamdy clarified that the bank finances about 30,000 projects, which vary between very small, small, and medium, that are worth roughly EGP 4bn, and represent 8% of the bank’s total loans portfolio.
The bank finances these projects by providing EGP 50,000 to EGP 25m, and is keen to reach the owners of those projects in all of Egypt’s governorates.
