National Bank of Egypt studying new joint loans of $3.2 bln

State-run National Bank of Egypt (NBE), one of the country’s biggest lenders, says considering new syndicated loans worth 57 billion Egyptian pounds ($3.2 billion) for around 29 clients.

The bank’s share in the anticipated syndicated loans amounts to around 10.7 billion pounds, its corporate banking head Sherif Riad told Amwal Al Ghad on Monday.

NBE’s direct and indirect funding portfolio recorded around 482 billion pounds at the end of October, Riad said.

Since the beginning of the new financial year started last July, the bank’s direct funding portfolio rose 2.2 percent to about 366 billion pounds in October, compared to 358 billion pounds in June, NBE official added.

For the bank’s indirect funding, it increased during the first four months of the current financial year, to 116 billion pounds at the end of October, Riad said.