Bank Audi to loan EGP 2 bn to SMEs to achieve 20% portfolio target

Bank Audi is planning to loan EGP 2 bn to small and medium-sized businesses by the end of next year to meet CBE targets portfolio targets, Managing Director Mohamed Bedeir told Al Mal. The CBE’s 5% SMEs lending initiative, which was launched in 2015, requires banks to increase the proportion of SME loans on their portfolios 20% by 2020. The bank’s outstanding loans to SMEs currently stands at EGP 3 bn.