Emirates NBD aims to pump EGP 3bn in national projects in 2015

Emirates NBD Egypt has its sights set to pump around EGP 2-3bn in financing national projects that the government intends to issue in 2015.

Board member Sohier Al-Damaty said that the bank’s loans and credit facilities portfolio reached EGP 8bn at the end of December, of which small and medium enterprises (SMEs) shapes 35%.

Emirates NBD Egypt aims to expand in the SMEs sector in order to create new job opportunities for youth, Al-Damaty noted.

Al-Damaty added that the bank has also considered funding new sectors, such as construction and the new and renewable energy sectors.

Emirates NBD Egypt plans to launch 20 new branches by the end of 2017, to increase its current 70 branches.