National Bank of Egypt reveals main axes of its strategic plan for 2022

Bank aims to offer EGP 45bn retail loans, EGP 35bn funds for SMEs, says Deputy Chairperson

The National Bank of Egypt (NBE) has announced the most important features of its strategic plan for 2022.
Hisham Okasha, Chairperson of the NBE, said that the bank's strategy for 2021 – 2023 comprised seven main axes: leading the banking sector in Egypt towards enhancing financial inclusion, moving strongly towards consolidating the principle of sustainability in the various activities of the bank, activating the principle of "the customer is the focus of the bank's attention", promoting digital transformation, continuing to develop the skills of the bank's employees, continuing to support the initiatives of the Central Bank, and making better use of the various resources of the bank.
Yehia Aboul Fotouh, Deputy Chairperson of the NBE, revealed that the bank aims to invest EGP 45bn in the retail banking portfolio during 2022, noting that the total retail banking portfolio currently amounts to about EGP 156bn, including EGP 11bn within the initiative of the Central Bank of Egypt for mortgage finance, benefiting more than 100,000 customers. The total funding for the vehicle replacement initiative amounted to about EGP 926m to date, benefiting 3,800 customers.
He added that the size of the bank's customer deposits portfolio amounted to about EGP 2.37trn with a market share that exceeded 37%, noting that the bank aims to increase the number of its clients to 20 million by December 2022, up from 18 million clients currently.
Aboul Fotouh confirmed that the bank also aims to pump about EGP 35bn into the portfolio of small and medium-sized (SMEs) projects, ranging between agricultural, industrial, commercial and service activities, noting that the total portfolio of these projects currently amounts to more than EGP 103bn benefiting about 97,000 clients. The bank aims to increase them by about 20,000 new customers during 2022, and they are served through 249 of its branches.
He added that the bank's market share in the financing of major companies amounts to about 41% of the total financing of the banking sector, with a total of more than EGP 900bn so far, explaining that the role of the NBE continues to lead the syndicated loans, which so far amounted to EGP 321bn, of which the bank contributed EGP 171bn. These financings varied between new grants and an increase in existing ones through 38 deals in several economic sectors, which is the largest number of deals arranged and managed by any financial institution in the Middle East and Africa.
Dalia El-Baz, Vice Chairperson of the NBE, indicated that the bank aims to provide banking services to a larger number of citizens in various governorates, with an increase of 60 new branches and 2,000 ATMs during 2022.
She explained that the bank's branch network has so far reached about 585 branches and offices, including 38 solar-powered branches, 55 branches to serve deaf and dumb customers, in addition to 5,229 ATMs, which include 95 machines equipped to serve customers with visual impairment, and 34 machines to serve customers with motor disabilities.
El-Baz confirmed that the bank aims to increase the percentage of users of Al-Ahly Net service to 80% of deposit customers to reduce pressure on branches and facilitate customers.
She added that the bank is continuing to implement its plan to expand its electronic service branches, which have now reached 37 branches.
In the same context, the bank launched services to activate payment and credit cards through ATMs and digital channels, with a comprehensive update of the official website.