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Banque du Caire sees increase in corporate loans

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Over the past 9 months, corporate loans increased EGP1.4bn at the Banque du Caire

By Nasser Youssef

Banque du Caire’s corporate loans portfolio totaled EGP12.8bn by the end of Q3 2013, increasing EGP1.4bn from EGP11.4bn by the end of 2012, according to Ayman Mukhtar, General Director of the bank’s Corporate Credit Sector.

According to Mukhtar, joint loans made up 60% of the bank’s corporate loans portfolio, adding that the bank was currently reviewing several credit portfolios for the purpose of providing direct funding to be used by companies in expansionary operations within the market. These amounts totaled EGP200m for both the electricity and real estate development sectors.

Banque du Caire is considered one of the primary actors to have provided joint direct funding for a number of economic projects over the last two years.

He reiterated that the bank’s corporate loans portfolio totaled EGP11.4 by the end of 2012, while the bank’s joint loan portfolio increased from EGP6.492bn in 2011 to EGP7.226bn by the end of 2012. Banque du Caire helped provide funding for a number of companies operating with investment in various sectors throughout 2012, including petroleum, electricity and supply goods, in addition to contributing to the implementation of various industrial projects within the steel, cement and sugar industries. Total funding provided by the bank for those sectors reached EGP4.94bn. During this period, the bank further secured EGP2.46bn in credit approvals, EGP1.2bn in Egyptian pounds, while the remaining EGP1.46bn ($210m) was in US dollars.

Translated from Al Borsa newspaper

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