Exclusive: Shares of 5 banks in two Egyptian state-run oil firms’ loan

A consortium of five Egyptian banks signed last week a financing agreement worth 4 billion Egyptian pounds ($225.8 million) with two state-run firms Misr Petroleum and Co-operation Petroleum (Copetrole).

The loan will be paid over seven years, whereby each firm will obtain 2 billion pounds designed to finance purchasing of petroleum products for local market.

The banking consortium includes the National Bank of Egypt (NBE), Banque Misr, Commercial International Bank – Egypt (CIB), QNB AlAhli, and the Arab African International Bank (AAIB).

The following table demonstrates the banks’ contributions to the two firms in Egyptian pounds.

The bank

For Misr Petroleum

For Copetrole

NBE

1 billion pounds

1 billion pounds

Banque Misr

363 million pounds

363 million pounds

CIB

244 million pounds

244 million pounds

QNB AlAhli

240 million pounds

240 million pounds

AAIB

153 million pounds

153 million pounds

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