(MENAFN- Daily News Egypt) The World Union of Arab Bankers (WUAB) has recognized Banque du Caire as the“Best Bank in Egypt for Financing Small and Medium Enterprises (SMEs) and Supporting Financial Inclusion for 2024.” The award was presented during a prestigious ceremony attended by banking leaders, regional institutions, and international figures, celebrating excellence in Arab banking achievements. Nader Saad, Head of the Small and Medium Enterprises Group at Banque du Caire, accepted the award on behalf of the bank.

Ahmed Effat, Deputy CEO of Banque du Caire, expressed pride in this recognition, describing it as a testament to the bank's extensive expertise in SME financing. He commended the WUAB for its commitment to advancing the Arab banking sector and fostering innovation within the industry. Effat emphasized the bank's unwavering focus on SMEs as a fundamental driver of sustainable development, national economic growth, job creation, and the promotion of local industries and exports. As of the end of the first half of 2024, Banque du Caire's SME loan portfolio reached approximately EGP 26.1bn.

Nader Saad highlighted the bank's remarkable achievements in SME financing during 2024, which have garnered several prestigious awards. Banque du Caire became the first Egyptian bank to win the Gold Award for SME Product Innovation for the Middle East and North Africa (MENA) region at the Small Business Financing Forum. It also received the Best Bank Providing Digital Lending Solutions award for 2024 and the Platinum Award for SME Financing for the MENA region in 2023.

In addition to its financial services, Banque du Caire is committed to promoting financial inclusion by offering non-financial support to SMEs. The bank operates eight business development units under the NilePreneurs Initiative, a program led by the Central Bank of Egypt (CBE) to enhance the entrepreneurship ecosystem. These units, staffed by certified professionals, provide specialized guidance to support startups and SMEs, further solidifying the bank's role in fostering innovation and economic growth.

Banque du Caire's consistent achievements underscore its dedication to empowering SMEs and advancing financial inclusion, reinforcing its position as a key player in Egypt's economic development and the broader Arab banking landscape.

MENAFN07122024000153011029ID1108967255