BDC signs $30mln finance deal with an Arab financial institution

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Egypt’s state-run lender Banque du Caire has already signed a $30 million funding deal with one of the Arab financial institutions during the last couple of days, chairman Tarek Fayed announced.

He told Amwal Al Ghad that BDC will disburse a tranche of the finance deal within the upcoming deal that would be directed to fund small and medium-sized enterprises.

Fayed further noted that the bank seeks to expand in the non-banking activities especially the leasing sector through its investment arm, Cairo Leasing Corporation. He added that  Cairo Leasing  recorded leasing contracts exceeding one billion Egyptian pounds.

 Banque du Caire achieved an increase in pre-tax profits to LE 3.9 billion compared to LE 2.3 billion during the same period of 2017.

While, Net profit after taxes increased to 2.5 billion pounds compared to 800 million pounds during the same period of 2017 with  growth rate more than 200%.