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Friday, 06 December 2019

Attijariwafa bank portfolio in Egypt worth $24 bln

Doaa A.Moneim , Tuesday 12 Nov 2019
Attijariwafa bank
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Managing director of Attijariwafa Bank Egypt Hicham Seffa said that Egypt has the potential to achieve financial inclusivity.

Seffa told Ahram Online that the Attijariwafa Bank portfolio in Egypt is worth between $23 billion and $24 billion.

“We are eager to provide funds for micro-projects in particular due to their importance to the economy,” he added.

Seffa also said that the funds that have been provided by the bank since the beginning of 2019 to SME projects in the Egyptian market have achieved a growth rate of 30 percent.

He called on the Egyptian banking system and government to focus more on SMEs as a backbone of Egypt’s economy, especially since the market creates about 700,000 new job opportunities annually.

Seffa added that SMEs are the new channels for boosting the economy, and that Egypt needs this the current phase and over the coming period.

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