EALB: Loans, Credit Facilities Portfolio Registered EGP 14.7 Bln In FY 2011/12

The Egyptian Arab Land Bank (EALB) said the loans and credit facilities portfolio registered EGP 14.7 billion at the end of FY 2011/2012, up from EGP 14 billion at the end of 2011, with an increase of 700 million including the loans and credit facilities portfolios held at the bank’s branches in Palestine and Jordan.

The bank injected more than EGP 500 million to the corporate loans portfolio in the last fiscal year, said Abdel Megid Mohy El-Din, chairman of the bank.

Mohy El-Din added that the bank approved to contribute with EGP 300 million to the EGP 1.3 billion loan arranged by the National Bank of Egypt for financing the commercial components of Hype Park’s project in El-Tagamu EL-Khames (Fifth Settlement).

The total value of deposits held at the bank reached EGP 16 billion at the end of FY 2011/2012, up from EGP 15 billion at the end of FY 2010/2011.