Cairo - Mubasher: The board of Raya Contact Center approved unanimously increasing the limit of the $500,000 loan granted to Gulf Customer Experience, a  Bahrain-based subsidiary, by an amount not exceeding $3.50 million.

The loan’s maturity period has been also extended to a maximum of two years starting from the loan receiving date, according to a stock exchange statement on Sunday.

During the first nine months (9M) of 2022, the consolidated net profits of Raya shrank by 61% to EGP 7.80 million, compared to EGP 20.03 million in the year-ago period.

As for the standalone results, the company turned to net losses of EGP 18.88 million in the January-September 2022 period, against profits of EGP 7.76 million in the year-ago period.