National Bank actively participates in the Central Bank's initiative to support the defaulters

As part of the Egyptian Central Bank's initiative to support failing customers and find effective solutions to bring these customers back to economic activity and reduce litigation, the National Bank of Egypt is participating in this initiative. Millions of pounds by exempting them from the benefits of these debts.

The Bank has about 50% of the companies involved in the initiative of the Central Bank of Egypt following the Bank's policies aimed at developing the segment of SMEs and acquiring most of the financing of this support segment. From the economy, and the proportion of bank default business customers at the initiative of the Central Bank does not exceed 2% of the total business customers of the bank without being indebted more than 1 in 10,000 of the portfolio of small and medium enterprises.

Dalia El-Baz added that the total beneficiaries of the Initiative does not exceed 1% of the total number of loans of personal customers of the National Bank of 1.7 million and that their debt does not exceed does not exceed 0.5% – half of the total – The Bank's policies are designed not to focus on the loan portfolio, spread the risk to the largest number of clients and manage the retail banking portfolio, which resulted in a decrease in the number and debt of customers. Central Bank in relation 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 inscribed in the framework several initiatives launched by the Bank to support the economy, support individuals and break through failing businesses. This supports the return of businesses threatened with work stoppages and closures, easing the burden on businesses and businesses and paving the way for the return of banking transactions, this initiative is not limited to the repayment of debt and return from work. The bank and the Egyptian credit society (I-Score), after the bank and the customer have waived the discharge of the borrower according to law, thus allowing the recycling of the production process and serve the plan economic reform in the country. The relevant sectors in the study of all cases and cases of defaulting customers and the development of methods and appropriate mechanisms to support them according to the requirements of each case.