EALB plans to inject an additional $169.6 million in the Egyptian economy
Wednesday, 07 February 2018 10:28
The Egyptian Arab Land Bank (EALB), plans to grant new credit lines worth EGP3 billion ($169.6 million) to companies specialized in various sectors in the country.
In an interview granted to an Egyptian media, Amr Kamal, the bank’s manager, explained that he received a strong demand of credit from steel, fertilizer, agribusiness companies as well as companies specialized in industrial projects.
The bank does not give details about the lending terms. However, its main objective is to improve its conversion rate of deposits into bank credits. For an outstanding deposit of about EGP25 billion, the loan portfolio is only EGP5 billion.
Chamberline Moko
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