Metropolitan Consulting Settles A Customer’s Debt To Alex Bank

Metropolitan Consulting has successfully reached an agreement with Alex Bank Intesa Sanpaolo to settle the debts of a defaulting customer in the steel sector.

Metropolitan reduced the value of the debt owed by the customer from EGP 154 million to EGP 100 million and it will be paid over five years, said Khaled Nagaty, chairman of the company.

The company succeeded in the last year in mediating between borrowers and lenders to settle debts worth EGP 92 million.

The company settled the debt of a customer working in private education sector who owed EGP 90 million to the Commercial International Bank (CIB) and another customer who owed EGP 1.5 million to the Egyptian Arab Land Bank (EALB), he added.

Metropolitan Consulting provides customers with financial and credit consultations, mediates between defaulting customers and banks to reschedule their debts and offers small and medium-sized enterprises finances from lending institutions.