Banque Misr, NBE set growth targets for FY2017-18

Banque Misr is looking to secure a 20% growth average across its operational board in FY2017-18, Vice President Akef El Maghraby tells Al Shorouk. The bank’s strategy will be mainly focused on expanding its SME lending portfolio, which currently stands at EGP 4.5 bn. The National Bank of Egypt is also targeting growth levels of 15-20% in its loans and deposits for the FY, Vice President Yehia Aboul Fotouh tells the newspaper. The bank’s net profits in FY2016-17 remained unchanged from the previous year at EGP 12.5 bn.