The National Bank of Egypt (NBE) considers granting new
loans worth EGP 7bn to both transport and energy sectors.
The vice chairman of NBE Yehia Abul Fotouh said that the
bank’s credit sector is to offer 3 financing offers including a loan worth EGP
2bn for a firm operating in ports, a 7-year-loan worth EGP 2bn for a
petrochemical company and a loan worth EGP 3bn for a firm operating in
electricity field, giving no information about the names of the companies.
He added that local lenders will be invited to participate
in promoting and covering the required liquidity.
Abul Fotouh said that NBE’s overall credit portfolio will
expectedly increase by EGP 45bn during the current fiscal year, compared to EGP
30bn in the previous year, adding that the current portfolio amounts to EGP
195bn expected to be increased to EGP 200bn by June 2016, compared to EGP 155bn
in June 2015, and EGP 124bn at the end of the fiscal year 2013/14.
The lender’s deposits rose by EGP 74bn to EGP 522bn,
compared to EGP 448bn in the previous fiscal year 2014/15, according to the
senior banker, who added that the state-owned bank is working consistently to
boost savings to use them to support all economy sectors.