In the last decade, banks and other Financial Institutions have grown more and more interested in Small and Medium Enterprises (SMEs). There is a high demand for SME financing in Egypt where those entities represent more than 95% of the market. In this context, Bank Audi started financing the SMEs market with the mission of contributing to the development of the sector in Egypt, boosting the Egyptian economy and enlarging the Bank’s lines of business and product range.
Bank Audi aims to position itself in the upcoming years as a leader in financing SMEs in an efficient and different way while building an SME relationship banking rather than simply adopting an SME lending culture.
The SMEs division will follow the value chain approach adopted by the Corporate Banking Group. This division has finalized its business portfolio segregation targets and set its policies, workflow and operational platform before its official launch in February 2011.
A small dedicated and skilled team was put together and is currently working actively through the Bank’s branch network and market research is being conducted to target a selected potential clientele.
Through acquisition of Cairo Far East Bank sae in March 2006, a small Egyptian bank with only 3 branches, Bank Audi Egypt with its dynamic strategy evolved to be one of the market key players today with a network of 53 branches.