ICEC

Egypt’s state agriculture bank seeks consulting proposals to boost assets

Egypt’s main agricultural lender PBDAC requested proposals from consulting offices, to boost efficiency in assets worth 3 billion Egyptian pounds ($337.8 million) owned by the bank.

El-Sayed El-Kosayer, Chairman of Principal Bank for Development and Agricultural Credit (PBDAC) said his bank is in talks with consulting offices, which deal with the central bank, seeking to boost efficiency in the three-billion-pound assets whether to sell, reuse, or to lease them out.

The bank has property assets represented in two branches; one located in the Fifth Settlement district in New Cairo and another in Kasr El Aini in addition to some assts in branches worth 800 million pounds, El-Kosayer added.

Principal Bank for Development and Agricultural Credit has around 1,210 branches amidst plans to restructure the branches that locate in the same areas so as to achieve more presence nationwide.

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