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The United Bank is raising microfinance portfolio to EGP 200mn

Tuesday 29 January 2019 02:23 PM

The United Bank
The United Bank


The United Bank established a microfinance portfolio of 200 million pounds, following the official launch of activity in the last quarter of last year.

The bank’s Board of Directors Chairman Ashraf Al Qadi said that his lender intends to expand significantly in micro-activity during the coming period to increase the portfolio to about one billion pounds by the end of this year.

Al Qadi added in statements to Al-Mal newspaper  that the bank aims to sign a protocol of technical cooperation in the microfinance field with the German Fund and Frankfurt School of Finance & Management before the end of January to enhance its experience.