National Bank of Egypt (NBE) is planning to open 50 new branches within the current fiscal year 2016-17, according to Yehia Aboul Fotouh, Vice Chairman of NBE. NBE had opened 47 new branches during the fiscal year 2015-16. Aboul Fotouh said that the bank would focus on opening medium and large branches in the Upper and Lower Egypt areas. NBE also intends to build 72 centres for small- and medium-sized projects, of which 60 will be in Cairo and 12 in Alexandria, with the purpose of speeding up lending to this segment, Aboul Fotouh further stated. (Amwal Al Ghad)