Misr Iran’s Non-Performing Loans Register 7% At The End Of Q1

Misr Iran Bank’s non-performing loans portfolio registered EGP 300 million during the first quarter of the current fiscal year acquiring 7.5% of the total value of loans portfolio which is EGP 4 billion.

Sources said that 100% of the Bank’s provisions are allocated to cover the non-performing loans.

Misr Iran Bank targets expanding in financing SMEs, as the lender has signed a finance agreement with Social Fund for Development with value of EGP 100 million, sourced added.

After increasing the return on treasury bills and bonds, customers’ deposits with the Bank declined registering EGP 5.5 billion at the end of the first quarter, compared with EGP 6 billion at the end of December 2011.