IDBE Reviews Its Funding Programs on Industrial Areas in Egypt

Industrial Development and Workers Bank of Egypt (IDBE) is paying a visit today to the industrial areas including 6th of October, 10th of Ramadan and Arab tower under the leadership of  IDBE’s board of directors chaired by Mr. El-Sayed El-Kosayer.

Hamdy Azam, member of the board of directors for (IDBE) said the main target of the visit is to identify the needs of customers and to discuss the funding programs them so as to provide new facilities in the light of IDBE’s keenness to encourage industry.

The bank attained EGP 34 million operating profits which reached EGP 104 million at the end of September, against EGP 70 million at the end of June 2013.

IDBE pumped EGP 1.1 billion in order to fill the gap of allocations which ranging from EGP 1.5 billion to EGP 1.6 billion during the last two years  via Support loans which obtained by the Central bank of Egypt (CBE), as well as the reserve profits of the last year which reached EGP 71 million so as to reduce the allocation gaps to EGP 350 million.