Al Baraka Bank has launched a new financing programme under the name “Ezdihar” to support and develop small and medium enterprises (SMEs), within the framework of the bank’s strategy to restructure the SMEs sector and provide a variety of products that suit different segments of customers.
The programme offers financing opportunities of up to EGP 10m, at a competitive rate of return with the fastest and simplest procedures, which expire within 14 days of fulfilling the conditions and completing the documents. The program also provides banking and financing solutions for all customers’ needs for all local activities of SMEs and entrepreneurs.
Ahmed Soliman, head of the SMEs sector, said that the bank pays great attention to these projects. He noted that the current portfolio of financing SMEs witnessed a noticeable increase at the end of 2022, recording EGP 4.6bn, with an increase of EGP 1.6bn, equivalent to 51% compared to 2021, especially after the launch of “Ezdihar”, with the portfolio’s targets of EGP 1.5bn this year.
He also explained that the bank provides short, medium and long-term financing to SMEs operating in the industrial, medical, and renewable energy sectors, in addition to contracting and agricultural manufacturing activities.
He also pointed out that Al Baraka Bank’s plan to restructure SMEs aims to attract new segments. He explained that Ezdihar comes within the programs offered by the bank, which provides quick banking solutions for all SMEs, and includes financing all activity needs from the purchase of local production requirements.
Al Baraka Bank has provided a distinguished service to the clients of the SMEs sector through the presence of 10 dedicated centers in Cairo, Giza, Alexandria, and the Nile Delta region.