NBE Pumps EGP1 bln for Construction Firms Within First Half of 2014

The total financing of the National Bank of Egypt (NBE) in favor of construction sector reached around EGP1 billion at the end of the first half of this year of 2013/2014.

An official source of NBE has informed Amwal Al Ghad that the bank pumped EGP1 billion credit facilities for 6 construction firms at the end of last December.

The total financing portfolio of the major firms which pumped by the bank up about EGP79.5 billion in December-end, expecting that the portfolio will be closed at EGP80 billion by the end of this fiscal year, in the light of the presence of collected premiums which estimated at EGP4 billion in the same period.

The source added that the customers’ deposit portfolio reached EGP330 billion at the end of the first half of this year, compared to EGP322 billion in the last fiscal year of 2012/2013.