Industrial Development Bank: EGP 4Bln Gross Credit Portfolio End -June

The gross volume of the direct and indirect loan portfolio in Industrial Development and workers Bank of Egypt surged to EGP 4 billion at the end of June 2013, compared to EGP 3.6 billion at the end of 2012, recording an increase of EGP 400 million.

Hamdi Azzam, member of the bank’s board of directors, revealed that the bank’s portfolio achieved a peerless growth whereas the bank had pumped EGP 100 million in Hyde Park’s loan; noting that the total value of the loan worth EGP 1.2 billion.

The bank initially agreed to finance Al Nouran Sugar with EGP 100 million, he added.