Crédit Agricole Egypt approves $30 million loan from its French parent

Crédit Agricole Egypt’s annual general meeting of shareholders has approved a $30 million loan from the French parent  Crédit Agricole, the bank said in a bourse filling Thursday.

The loan is to support tier two capital, Crédit Agricole Egypt said in a bourse filling.

The OGM has also approved the sale of unit’s three properties for the Egyptian Housing Finance Co for 19.6 million Egyptian pounds ($1 million), according to the filling.