Finance

Egypt: Misr Bank’s SMEs financing portfolio grew by 31% in 5 months

Tuesday, 10 July 2018 16:40

Between December 2017 and May this year, the loan portfolio granted by Misr Bank to SMEs grew by 31% to EGP10 billion ($558.3 million) from EGP8 billion ($446.7 million).

According to the Vice President Akef El Maghraby (photo) relayed by local media, 70,000 SMEs will benefit from the resources. The outstanding loan will reach EGP25 billion by the end of the 2018-19 financial year and EGP45 billion the following year.

Back in November 2017, Misr Bank reported that it was negotiating a loan of $500-700 million with an international financial institution as to grant higher loans to customers and SMEs.

Chamberline Moko

On the same topic
BEAC introduces new USD transfer procedures from CFA franc accounts, effective July 22, 2025. Reform aims to streamline international payments and...
Non-bank institutional investors, though still a minority, are increasing their presence in the West African Economic and Monetary Union (WAEMU) public...
• Candi Solar plans to raise “tens of millions” in new Series D funding by 2026.• Current funds will deepen its footprint in South Africa and India’s...
- Micro, small, and medium enterprises received over half of business loans in WAEMU in 2024 - Bank loans to SMEs rose by 13.5%, while lending to large...
Most Read
01

The acquisition signals rising confidence in Africa’s digital infrastructure as a viable, long-term ...

Kenyan Mawingu Networks to Sell 35% Stake to South Africa’s Pembani Remgro Fund
02

In Africa, the private sector is widely seen as the main engine of industrialization and plays a cen...

West Africa has tools to build strong industry, says IFC’s Olivier Buyoya
03

Highlights: • New 1% US tax on outbound remittances to take effect January 1, 2026• Africa received...

US Remittance Tax Could Weigh Heavily on African Economies
04

Key Highlights • New national plan “Tchad Connexion 2030” earmarks $1.5 billion for digital tr...

Chad Plans $1.5 Billion Digital Investment by 2030
05

Highlights: • Egypt targets 42% renewable energy share by 2030.• POWERCHINA to build 130-km high-vo...

Egypt expands grid capacity to support green energy ambitions
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.