NBE’s Investments Registered EGP 13.5 Bln At End-June
The National Bank of Egypt (NBE) said its value of investments registered about EGP 13.5 billion, which is the nominal value of its shares in 191 economic institutions, at the end of FY 2011/2012 ended on June 30th 2012.
Sources said the financial sector accounted for 60% of the bank’s investments. Some of these economic institutions are holding companies that are listed under the financial sector, but some of their subsidiaries may be listed under other sectors. 40% of these institutions are listed under tourism, housing, industrial and food industry sectors, in addition to other sectors.
NBE targets to achieve growth of 8% to 10% in investment sector in FY 2012/2013, sources added. The bank will focus in the upcoming period on developing South Egypt’s cities so as to achieve added value to the society and economy.
The bank targets to expand in medical, pharmaceutical, food industries, housing, land reclamation and red meat production sectors in the next period.
The bank’s management follows up studies made on the current changes in economy so as to provide the optimal funding structure aimed at achieving economic feasibility of the financed projects.
