Tanmeyah Micro Enterprise Services is currently in discussions with two banks for a financing of EGP750mn to reinforce its presence in the domestic market and support geographical expansion plan. The company has expanded lines of credit from new banks including QNB Alahli and Egyptian Gulf Bank (EGB), from which Tanmeyah has obtained direct loans worth EGP115mn. Tanmeyah is a financial services provider that focuses on serving low-income individuals and micro and small enterprises. The company had a loan portfolio of EGP330mn in 2014, a network of 95 branches and c1000 employees in Egypt. 

Egyptian Gulf Bank: USD0.94 as of 23 Mar. 2017, Rating: Neutral, TP: USD1.22/share, MCap: USD271mn, EGBE EY/EGBE.CA

Qatar National Bank AlAhli: EGP41.00 as of 23 Mar. 2017, MCap: USD1,681mn, QNBA EY/QNBA.CA