Egyptian Minister of Social Solidarity Nevine el-Qabbag on Monday held a meeting to discuss the draft budget for next fiscal year 2024-2025 for Nasser Social Bank, which was estimated at LE35.6 billion, compared to LE32 billion for the current fiscal year, which ends in June 2024.
During the meeting, the minister conveyed the outcomes of meetings of the committees of the Board of Directors, and it was agreed that the bank’s draft budget is in line with that of the state.
This also abides by the principle of transparency and disclosure and taking into account the rationalisation of spending without prejudice to the bank’s duties and responsibilities towards achieving its social and economic mission.
This is also with the aim of maximising the bank’s resources to serve social purposes, encouraging savings for individuals and bodies and accepting investment deposits, according to the statement.
El-Qabbag indicated that the bank’s expansion strategy and plans were discussed which aims to increase business volume, expand the customer base, and attract new segments, in line with financial inclusion plans, especially in new cities
Discussion about this post