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Emirates NBD-Egypt inks EGP 400m with ADIB’s leasing arm

Emirates NBD-Egypt inks EGP 400m with ADIB’s leasing arm
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Cairo – Mubasher: Emirates NBD-Egypt, a subsidiary of DFM-listed Emirates NBD, penned a medium-term loan agreement worth EGP 400 million with Abu Dhabi Islamic Finance (ADIFinance), the leasing arm of Abu Dhabi Islamic Bank (ADIB).

In line with the bank’s strategy to back non-banking financial institutions, the loan is aimed at reinforcing the company’s finance leasing activities, according to a press release.

The joint agreement comes within the framework of Emirates NBD-Egypt’s strategy to foster economic development and sustainable growth.

The bank plans to establish strategic partnerships and offer advanced financing solutions to drive economic growth and improve its services to a wider client base.

Amr El-Shafei, Managing Director and CEO of Emirates NBD–Egypt, stated: "Together, we aim to strengthen the financial landscape, expand business horizons, and provide enhanced funding solutions for our valued customers.”

Mohamed Al Amiry, Managing Director and CEO of ADIFinance, shared: "Collaborating with Emirates NBD – Egypt allows us to present innovative and sophisticated financial solutions that drive economic growth and enhance companies' adaptability to cope with everchanging economic situations."

Earlier in February, Emirates NBD-Egypt opened a new branch in Zagazig, which was the second largest one in the Delta Region.