NBE Khartoum Eyes SDG 100 Mln Deposits In FY 2012/13

The National Bank of Egypt (Khartoum) targets attracting SDG 100 million of deposits by the end of June 2013, said Ahmed El-Leithy, general manager of the bank.  The bank succeeded in attracting deposits of SDG 56 million of foreign and local currencies.

During the Egyptian delegation’s visit to Sudan for inaugurating the National Bank of Egypt (Khartoum) officially, El-Leithy noted that the bank received an approval from the Central Bank of Sudan to conduct sharia-compliant transactions.

The National Bank of Egypt (Khartoum) approved to issue a letter of credit worth €22 million to import wheat from Australia to Sudan.

In addition, the bank issued a letter of guarantee worth €26 million for Awald Allam Egyptian Contractors Company to construct a 170-km road in Khartoum and other infrastructure projects.

Mohamed El-Sebaey, general manager of NBE’s Al-Ahly Agricultural Company, said the value of the bank’s investments in the project that aims at planting 5,000 feddans in Sudan in two years is US$ 6 million (EGP 36 million).

The Egyptian Prime Minister Hisham Kandil, the Governor of the Central Bank of Egypt Farouk El-Okdah, the Chairman of the National Bank of Egypt Tarek Amer and a number of Egyptian and Sudanese officials will inaugurate officially the National Bank of Egypt (Khartoum) which is part of NBE’s efforts to boost the trade ties between Cairo and Khartoum.