Bank Audi Egypt to seal EBRD, EIB loan deal this month: official

Bank Audi SAE, Egypt’s eighth largest commercial bank, will sign this December a loan agreement with the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB), deputy chairman announced Tuesday.

In exclusive statements to Amwal Al Ghad, Mohamed Fayed said the agreement is to boost Bank Audi Egypt’s dollar liquidity and help in meeting clients’ requirements for foreign currency.

The banking official declined to mention the value of the planned agreement with EBRD and EIB.

Bank Audi Egypt is the Egyptian arm of Lebanon-based Bank Audi, the largest bank in terms of both customer deposits and total assets in Lebanon.