NBE: Corporate Loan Portfolio Hits EGP 76 Bln By May-End

The National Bank of Egypt ( NBE) stated on Saturday that its corporate loan portfolio has hiked to EGP 76 billion by the end of last May, compared to EGP 60 billion by the end of 2012, representing an increase of EGP 16 billion

Mahmoud Montasser, board member and head of credit at NBE, expected that the bank’s credit portfolio is likely to  steady at EGP 76 billion by the end of the current fiscal year, thanks to the reimbursements that shall be collected within this month.

Meanwhile, Mr. Montasser pointed out that the NBE has taken part in arranging number of syndicated loans in the market,  notably Mobinil’s loan of EGP 2.9 billion and Hyde Park’s of EGP 1.3 billion besides the Egyptian Chemical Industries (KIMA)’s of US$423 million.

Additionally,  that NBE is seeking to obtain EGP 180 million from Al Nasr Co. For Coke & Chemicals’ loan worth € 85 million (EGP 720 million), he added.

The  bank is also seeking to pump US$ one billion for the electricity sector within the upcoming period, in addition to contributing with EGP 1.1 billion for the  South Helwan Power Plant project loan of EGP 3 billion.