Misr Iran’s Loans Jump to EGP200 mln, EGP4 bln Portfolio in 2013-End

The total loan portfolios of Misr Iran Banque surged by EGP200 million registering EGP4 billion at the end of 2013, against EGP3.8 billion at the end of 2012.

An official source has informed Amwal Al Ghad that his bank has recently pumped EGP100 million for El-Marakby for steel which the National Bank of Egypt(NBE) is participating to arrange it with EGP510 million.

The source has pointed out that the total personal loans did not seize for a large part of the portfolios, as the total personal loans reached EGP20 million at the end of 2013.

He explained that the bank has recently signed two contracts with the social fund worth EGP100 million for funding small and medium sized projects and it is targeting to attain EGP50 million for Small and Medium Enterprises SMEs during the ongoing year.

The profits of Misr Iran inched by 54% (EGP118 million),move up by EGP333 million, compared to EGP215 million in 2012-end.