Al Watany Bank Of Egypt’s NPLs Hike To EGP 1.078 Bln

Al Watany Bank of Egypt’s non-performing loan portfolio surged to EGP 1.078 billion at the end of last December, accounting for 14.9% of the bank’s portfolio of loans and credit facilities which reached EGP 7.241 billion.

The bank’s non-performing loan portfolio accounted for 12.4% (EGP 882.753 million) of the loan portfolio which reached EGP 7.119 billion at the end of 2011.

According to the bank’s financial statements, the bank’s retail loans increased EGP 133.744 million to reach EGP 638.395 million at the end of 2012, compared to EGP 504.651 million at the end of 2011.

The value of credit cards accounted for EGP 19.857 million, personal loans for EGP 603.166 million and mortgage finance for EGP 15.372 million of the retail loan portfolio.

The corporate finance portfolio reached EGP 6.603 billion at the end of 2012, compared to EGP 6.614 billion at the end of 2011. The debit current accounts accounted for EGP 704.587 million, direct loans for EGP 4.598 billion and syndicated loans for 1.3 billion of the corporate finance portfolio at the end of 2012.

The bank raised the provisions to 78.5% at the end of 2012, compared to 76.5% at the end of 2011, so as to reduce the risks of NPLs.