National Bank of Egypt (NBE) plans to increase the number of its branches to 425 from 372 by the end of the current fiscal year 2016-17. The head of retail banking and SMEs at NBE Hazem Hegazy said that the bank aims to improve financial inclusion in line with the country’s policy. Hegazy further stated that NBE managed to take advantage of the Central Bank of Egypt (CBE)’s initiative to open new branches, adding that NBE opened 37 branches last year: four branches in Upper Egypt and Suez Canal area, 14 branches in Cairo and two branches in Alexandria. The senior banker said that the average number of customers at one branch is 22,000. (Al Mal)