National Bank of Egypt Injects EGP1.5bn to Leasing Sector in December

During this December, the National Bank of Egypt’s (NBE) has pumped around EGP 1.5 billion in the country’s lease companies.

NBE Board Member Yehia Abu El Fotouh praised the Egyptian lease sector for repaying its dues to the bank regularly.

Meanwhile, NBE’s total loan portfolio reached EGP 117 billion; while the deposits recorded a 26% growth to EGP 393 billion at the end of June 2014.

In earlier statement to Amwal Al Ghad, Abu El Fotouh declared that the bank would provide new credit facilities for sugar and cotton sectors at values of EGP 2.6 billion. The sugar sector will receive EGP 1.1 billion; while the cotton will have EGP 1.5 billion.

Moreover, the banking official announced that the bank decided to raise credit facilities given to the contracting sector from EGP 22 billion to EGP 30 billion within next year.