Egyptian Arab Land Bank secures EGP13.2bn loans by Sep-end

The state-owned Egyptian Arab Land Bank (EALB)’s loans portfolio has increased to 13.2 billion Egyptian pounds by the end of September 2019 up from 5.2 billion pounds by the end of October 2017, its  Vice Chairman Amr Gadallah said.

He further told Amwal Al Ghad that the bank is studying the possibility of securing loans into Energy, construction and petrochemistry sectors.

Total customer deposits rose to 48 billion pounds, and the bank is seeking to increase them to 50 billion pounds by the end of 2019, he added.

The bank  has achieved profit of 500 million pounds by the end of September 2019, while the bank intend to increase its profits to 850 million pounds by the end of June 2020.