Misr Iran’s Loans Fell to EGP100 million in September

Misr Iran Development Bank’s loan portfolio declined with EGP100 million to register EGP3.8 billion at the end of September 2014 against EGP3.9 billion at June 2014.

An official source in the bank has told Amwal Al Ghad that the bank is considering a stake ranging from EGP100 to EGP200 million in Petroleum Cooperative Society Company (COOP) and Misr Petroleum Company that estimated at EGP10 billion.

The bank registered EGP229 million profits in September 2014 in compared to EGP187 million profits in June 2014.

The bank’s deposits retreated with EGP5.9 billion at September from EGP6.8 billion in 2013, decreased by EGP900 million.

Moreover, Misr Iran bank has signed an agreement with mortgage finance fund in addition to monitoring about EGP150 million of the new product to begin the fund in the current month.