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31.5mn bank cards in Egypt, CBE

Thursday 27 September 2018 02:45 PM


By Mahmoud Gamal
Deputy Governor, Ayman Hussein, estimated the number of bank card holders in Egypt at 31.5 million, including 16 million direct debit cards, 10.5 million prepaid cards and 5 million credit cards.

This came on the sidelines of a press conference held by SAP Solutions, yesterday.

According to a recent study by Moody's, each 10 percent increase in electronic payment channels in Egypt adds $ 1.5 billion to the country's national product, Hussein said.

 He pointed out that the market includes 39 banks with 2800 branches, 4,000 post offices, 11.600 thousand ATMs, 70,000 pos , 873 companies and a microfinance society serving 4 million clients with a total portfolio of between EGP 11 billion and EGP 13 billion.