Egypt's state-run Industrial Development bank (IDB) performing and non performing loans portfolio registered 13.072 billion Egyptian pounds by the end of September 2019 compared to 12 billion pounds in December 2018. The Vice-Chairman Hamdy Azzam told Amwal Ghad that the bank's performing loans have increased to 12 billion pounds by the end of 2019 with a growth rate of 38 percent. The bank achieved a net profit before auditing of 512 million pounds at the end of 2019, compared to profits of 300 million pounds at the end of 2018. The bank's customer deposits recorded 25 billion pounds at the end of 2019, with a growth rate of 32 percent. He explained that the bank's SMEs portfolio has recorded about 3.4 billion pounds, representing 25 percent of the total credit portfolio. the bank aims to achieve annual growth rates ranging from 20 percent to 25 percent through expanding in all activities and products.
