Medhat kamar, General Manager for restructuring NPLs at National Bank of Egypt (NBE) said that a total of EGP 230 million debts are owed by Ramy Lakah, Chairman of Holding Company for Financial Investments (Lakah Group) (HCFI) to NBE, Arab African International Bank (AAIB), Al-Baraka Bank-Egypt and United Bank of Egypt (UBE), including EGP 154 million debts to NBE.

The top official added that the four lenders are studying Lakah's offer to settle the remaining debts through assets owned by the business tycoon. The four lenders will reply to this offer over the coming few days.