Exclusive: Shares of 5 banks in two Egyptian state-run oil firms’ loan

A consortium of five Egyptian banks signed last week a financing agreement worth 4 billion Egyptian pounds ($225.8 million) with two state-run firms Misr Petroleum and Co-operation Petroleum (Copetrole).

The loan will be paid over seven years, whereby each firm will obtain 2 billion pounds designed to finance purchasing of petroleum products for local market.

The banking consortium includes the National Bank of Egypt (NBE), Banque Misr, Commercial International Bank – Egypt (CIB), QNB AlAhli, and the Arab African International Bank (AAIB).

The following table demonstrates the banks’ contributions to the two firms in Egyptian pounds.