AAIB Attains EGP28 bln Total Loans, 1.4% NPL

The portfolio of non-performing loans of the Arab African International Bank (AAIB), captured 1.4% from the total loan portfolios which reached EGP28 billion at the end of last September.

The bank adopted cash settlements with the customers in light of the recession that dominate the real estate market.

Ahmed Shawki , Head of Remedial Management at AAIB said the political and security crises contributed negatively to reduce the number of settlements that concluded by the bank during the last three years.

He stressed that the major debt of the non-performing loans are belonging to the businessman Rami Siag which reached EGP700 million for AAIB, Ahli United bank, IDWBE and Banque Misr.

He further said the bank has 6-7 assets and the value of them up around EGP8.25 million , and the bank entered negotiations with several consulting offices to develop them so as to achieve maximum benefit.