AUB: Total Finances for Tourism Sector Hit EGP2 bln in 2013

In 2013, Ahli United Bank – Egypt (AUB) granted the country’s tourism sector total finances amounting to EGP 2 billion, according to a senior source from the bank spoke to Amwal Al Ghad on Monday.

The source stated that the bank’s credit portfolio recorded during 2013 a significant surge exceeded 26% or EGP 2 billion, totaling EGP 9.5 billion by 2013-end, versus EGP 7.5 billion at the end of a year earlier.

Moreover, the source asserted AUB’s support for the Egyptian tourism sector, referring to pumping additional financial package recently to support the tourist firms.  AUB applies the Egyptian Central Bank’s initiative to support the tourist firms in default, he added.