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Export Development Bank assets grew by 35% y-o-y

Sunday 02 December 2018 02:24 PM

Export Development Bank of Egypt
Export Development Bank of Egypt

By Mohamed Salem and Ahmed Desouqy:
Export Development Bank of Egypt is currently implementing its strategic five-year plan (2017-2022) aimed at improving competitive position and increasing market share through organic growth. The plan also aims to increase turnover and branches network as well as restore its role in terms of supporting the State’s policy to boost export and help exporters to open new markets.
In an interview with the economic daily Al Mal, Deputy chairman of Export Development Bank Ahmed Galal said that the plan is based on 6 areas to achieve the bank’s strategic goals, namely business development, increasing exports, changing image and culture of institution, adopting modern technologies to achieve a competitive position, developing and investing in human capital, and social responsibility to the Egyptian society.
He added that the lender works to provide the best banking products to customers, which would enhance its competitiveness in the Egyptian market.
The senior banker demonstrated the bank’s key indicators, stating that the lender’s assets totaled EGP 44.627bn for the fiscal year ended in June 2018, compared to EGP 32.966bn for the same period a year ago, with a growth rate of 35%.