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AfricaApril 1 2019

Buoyant Egyptian banks target SMEs and unbanked in growth push

Having successfully weathered the turbulence following the 2011 uprising, Egypt's banks now enjoy good capital adequacy levels and low loan default rates. Many are eyeing the small business sector and an underbanked populace as the next areas of growth, as Kit Gillet reports.
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Egypt’s banking sector has shown remarkable resilience in recent years, despite the global financial crisis and the years of political turmoil that followed the country’s 2011 uprising.

Now, with Egypt’s economic growth set to pick up speed, banks are hoping to benefit from a more favourable operating environment, as well as the government’s drive to extend financial inclusion to the country’s vast unbanked population and increase lending to small and medium-sized enterprises (SMEs), considered key for Egypt’s long-term growth.

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