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CIB agrees to reschedule loans of Sharm Dreams

CIB agrees to reschedule loans of Sharm Dreams
The company incurred net losses of EGP 29.8 million in 2020
CIB
COMI
0.73% 59.42 0.43
Sharm Dreams
SDTI
-3.02% 5.14 -0.16

Cairo – Mubasher: The Commercial International Bank-Egypt (CIB) approved in principle to reschedule loans and cut interest payments of Sharm Dreams Company for Touristic Investment.  

The company requested an urgent funding of EGP 140 million for the development of the company’s projects, according to a bourse disclosure on Thursday.

During 2020, the company incurred net losses of EGP 29.8 million, against net profits of EGP 65.68 million in 2019.

The revenues retreated to EGP 10.14 million last year from EGP 106.63 million in 2019.