By: Islam Fadl

Cairo – Mubasher: Export Development Bank of Egypt (EBE) considers pumping loans worth EGP 1.7 billion into several sectors.

The Egyptian lender plans to directly finance four sectors; namely, fertilizers, contracting, diverse services, and metal industries, the bank’s vice chairman Ahmed Galal told Mubasher.

Previously, the top official expected EBE to achieve profits of more than EGP 1 billion in fiscal year 2018/2019.

From July to March, the Egyptian lender’s net profits amounted to EGP 879.9 million, compared to EGP 560.41 million in the year-ago period.

For FY19/20, the bank plans to achieve a profit of EGP 1.065 billion