Cairo - Mubasher: Banque Misr is looking to obtain a $550 million loan from abroad prior to the end of 2018.

This comes within the framework of Egypt’s second-largest state-owned lender ’s efforts to improve its dollar liquidity, the bank’s vice president Akef El-Maghrabi told Reuters.

He highlighted that Emirates NBD and Citibank will arrange the loan.

In May, El-Maghrabi stated that the bank's foreign credit portfolio amounted to around $4.16 billion.

In August, he said that Banque Misr was seeking to borrow $750 million from international lenders and institutions during fiscal year 2018/2019.