Faisal Bank to allocate EGP800mn to SME financing in 2018
Faisal Islamic Bank of Egypt is planning to allocate EGP800mn in 2018 to SME financing, according to the bank’s SME head, Mohamed El Kholy. He added that the bank’s SME loans reached EGP1.7bn in 2017, which is over the Central Bank’s requirement of 20% of total loans by 2019. He also added that the bank is planning to expand further in SME financing, with a target percentage of total loans at 25% in 2018 and 30% in 2019.
Faisal Islamic Bank of Egypt: USD1.14 as of 5 Feb. 2018, Rating: Neutral, TP: USD1.18/share, MCap: USD406mn, FAITA EY/FAITA.CA
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