The Daily News Egypt sat down with Mounir Zahid, the president of Banque Du Caire to discuss the bank’s future strategy, policy changes and how the bank plans to improve growth rates and performance indicators.
What are the future plans for the bank’s strategy?
New strategy for next 3 years to preserve bank’s status, improve growth rates and performance indicators after strategy of last 3 years. Banque du Caire is seeking to implement an ambitious strategy to achieve growth rates in all its sectors reaching 30% in some loan products.
How can the Egyptian economy grow?
The main engine for growth in 2015 will be the expansion of loans, especially through financing small, medium-size and micro projects. There will also be syndicated loans, focusing on major development projects that add value to the economy and achieve sustainable development.
The bank will work on implementing policies and procedures related to developing activities and the application of a set of controls on the availability of the bank’s products. The policies will target maximising the bank’s role in developing economic activities and meeting clients’ needs.
He said the bank had prepared an ambitious strategy for the last three years (2012-2014), and is currently preparing a new strategy for the next three years, from 2015-2017. The plan will preserve the bank’s status and improve growth rates and performance indicators.
Tell us more about the bank’s retail and credit portfolios.
The bank’s retail portfolio of loans has reached EGP 17bn in addition to a credit portfolio of EGP 12bn. It has achieved a rise in the field of syndicated loans characterised by large investments, due to the bank’s keenness to be strongly present in corporate credit.
Banque du Caire took first place in the automotive financing market in 2014, where the market share reached 16% of total passenger cars financed by banks. Total car loans reached EGP 662m until November, with a sales growth of 30%, compared to sales in 2013. Meanwhile, car loans from Banque du Caire is considered the fastest growing bank product in the Egyptian market.