By: Islam Fadl

Cairo – Mubasher: The United Bank injected syndicated loans worth EGP 880 million during the first eight months of 2019, the lender’s chairman Ashraf El-Kady said.

Such funding include loans valued at $20 million, EGP 400 million, and EGP 150 million directed to agricultural and food sectors, El-Kady told Mubasher.

In addition, the bank considers contributing to syndicated loans in the coming period to finance contracting, food, and infrastructure sectors, he added.

During the first half of 2019, the United Bank’s profit grew by 20% year-on-year to EGP 1.4 billion.

It is noteworthy that EFG Hermes Holding Co, CI Capital Holding, Pharos Holding, and HC Securities and Investment are competing to manage the sale of a stake in the United Bank, the Central Bank of Egypt’s (CBE) governor Tarek Amer previously revealed.