By Hossam Mounir and Sara Aggour
HSBC Egypt is considering financing a number of major projects in the energy, infrastructure, petrochemicals, and construction investments sectors, according to Amr Bahey, Head of Large Corporates at HSBC Egypt.
“The bank has great experience in financing these sectors and is more than willing to enter into them strongly in the upcoming period, especially in the light of Egypt’s recent political stability and economic growth,” explained Bahey.
He also mentioned that HSBC Egypt’s loan portfolio witnessed a 9% growth end of March 2015 to reach EGP 21.7bn, of which EGP 18bn is for companies, and EGP 3.7bn is for the retail sector.
“Our bank aims to play a large and effective role in the joint loans sector, whether through being part of it or as a main coordinator,” added Bahey.
According to Bahey, the exchange market will witness an improvement in the coming period, until all categories’ complaints on the scarcity of dollar disappear completely.
HSBC’s presence in more than 70 countries gives the bank the chance to communicate with foreign investors and attract them to the Egyptian market, Bahey said. He added that there is huge interest in the Egyptian market around the world.
“The bank studies several deals to promote and present them to international investors in the energy, petrochemicals, and real estate sectors, including commercial and housing real estate,” he added.