Details of the "Egyptian Ahli" "central" initiative to support failed clients

As part of the Egyptian Central Bank's initiative to support serious defaulters, find effective solutions to bring these customers back into the circle of economic activity and reduce litigation, National Bank Egypt is participating in this initiative, which aims primarily to support individuals and businesses. Dalia Al-Baz, vice president of the National Bank of Egypt, said the bank accounted for about 50% of the companies included in the initiative of the Central Bank of Egypt, following the policies of the Bank aimed at developing small businesses. And And the acquisition of the largest part of the financing of this segment supporting the economy, and that the proportion of defaulting customers of banks that apply to the Central Bank initiative exceeds not 2% of the total business customers of the bank. Small and Medium Business Financing Portfolio and Business Banking.

Dalia Al-Baz added that the total beneficiaries of the initiative does not exceed 1% of the total number of loans of 1.7 million loans made by Ahli National Bank and that their indebtedness does not exceed 0 , 5% – half of the total – She explains that NCB's policies are aimed at not concentrating the credit portfolio, spreading the risk to the largest number of clients and managing the retail banking portfolio properly, leads to a decrease in the number of Ahli Bank clients, Compared to the size of the Bank's portfolio in these loans.

Hisham Okasha, chairman of the board of directors of the National Bank of Egypt, said that the initiative launched by the Central Bank of Egypt was part of the of several initiatives launched to support the economy and support individuals and boost business performance

"This initiative is not just about paying debts and returning businesses, but also removing their names from lists negative from the Central Bank and After the bank and the customer have waived the release of the borrower according to law, which allows the recycling of the production process and serves the economic reform plan in the country, praising the role of bank management and all employees in the affected areas All cases and default client files and the development of appropriate methods and mechanisms to support them as required these of each case. "