Bank Audi Egypt, European Investment ink deal for USD30mn loan
14 Mar 2017
(MENAFN) Bank Audi Egypt proclaimed that it has signed a memorandum of understanding (MOU) with the European Investment Bank to get a loan of USD30mn.
Meanwhile, the bank is open to all global financing institutions to serve the Egyptian market, while it had signed two loans with the European Bank of Reconstruction and Development at USD60mn.
Accordingly, both sides are now reviewing the terms of the loan and will ink the final agreement in the coming period, which is projected to be in range of five to seven years.
The whole deposits posted EGP45.5bn at the end of last year, while the value dropped to EGP39.4bn after excluding the impact of exchange rate changes.