Banque du Caire aims to reach a growth rate of 10-12% in its loan portfolio by the end of 2016, according to manager of the bank’s Financial Sector Ahmed Ismail.

The total loans portfolio at the bank was worth EGP 35.5bn as of the end of 2015, compared to EGP 30.11bn in 2014, an increase of EGP 5.4bn, CEO and chairperson Mounir El Zahid said Tuesday.

El Zahid explained that the increase took place after facilitating operations at the bank’s branches and ensuring that customers’ needs were me quickly and the service provided to them was improved. This attracted more clients to the bank, which resulted in more loans being granted to them, in addition to expanding in small loan activities.

The loans portfolio was increased from EGP 18bn at the end of 2011 to EGP 22bn in 2012; then to EGP 25bn in 2013; EGP 30bn in 2014, and EGP 35bn in 2015

As for deposits, El Zahid said they increased by EGP 14bn in 2015 (22%). The portfolio climbed to EGP 78bn from EGP 64bn in 2014. The bank attributed this growth to expanding the products offered to clients in both the national currency and in foreign currencies.

The deposits portfolio at the bank was boosted from EGP 44bn in 2011 to EGP 49bn in 2012, then to EGP 58bn in 2013.

According to Ismail, the bank aims to increase its deposits portfolio to EGP 91bn by the end of this year. The size of deposits in foreign currencies at the bank currently stands at the equivalent of EGP 6bn.

The rate of loans-to-deposits at the end of 2015 registered 54.6%, versus 47% in 2014; 43.6% in 2013; 44.3.% in 2012, and 40.7% in 2011.

The bank does not solely seek an increased loans base, but rather for the portfolio to be in the best shape possible and to minimise the risk of non-performing loans, executive board member Ayman Mokhtar explained.