Egypt
Announcement

09/03/2023

Mashreq – Egypt celebrates achieving the CBE’s target by growing its SME ‘s portfolio to represent 25% of its total loans portfolio

In Short
  • In line with the Central Bank of Egypt’s SME-related targets, Mashreq – Egypt announces the growth of its SME operations to reach 25% of its total loans portfolio; a significant milestone for the bank and a testament to its unwavering commitment to supporting one of the country’s most vital sectors.
Cairo, Egypt: Mashreq – Egypt has worked on training and supporting its calibers by offering comprehensive courses on managing credit portfolios that qualify them to not only excel in credit services, but to also become go-to advisors who can support Mashreq’s clients in growing their businesses through world-class banking services and credit solutions. Amr El Bahey, CEO, of Mashreq– Egypt, said: “SMEs reaching 25% of our total loans portfolio is a cause for celebration and the result of tireless efforts by the bank’s employees, who put their extensive expertise to use in order to provide our clients with the support they need to grow their businesses.” “Through simplifying the procedures for obtaining loans to increasing flexibility and reducing approval periods, Mashreq – Egypt took the necessary measures to facilitate the notable growth in our SMEs portfolio which ultimately aided in achieving the targets set by the Central Bank of Egypt in regards to the growth of the SMEs portfolio,” Amr concluded.

Providing digital solutions to wider portions of the bank’s clientele will be the bank’s primary focus in the coming period, reveals El Bahey, further predicting that pursuing digital innovations will bolster the Mashreq’s efforts when it comes to achieving financial inclusion.


“The efforts of Mashreq – Egypt to up-skill its SME team has vastly upgraded their abilities and enabled them to properly advise their clients in order to expand their businesses,” said Ahmed Mobarak, Head of Business Banking, Mashreq – Egypt. “The bank’s mission to enhance the performance of its employees has been the main factor leading to the growth of our SMEs portfolio.” Furthermore, Mobarak stressed on how digital solutions are coming into focus at Mashreq– Egypt’s future, which would help the bank develop innovative financing programs in the field of supply chain and other specialized programs. With the strong belief in the vitality of the SME sector to the Egyptian economy, Mashreq– Egypt is committed to growing Egypt’s SMEs sector as per CBE’s related directives and targets.
Egypt
Announcement

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