EALB bank eyes debt settlement deals of 750mn Egyptian pounds this year

The state-run Egyptian Arab Land Bank (EALB) plans to reach settlement deals with troubled clients for debts worth 750 million Egyptian pounds ($42.2 million) within the current year.

EALB had signed debt settlement deals worth 450 million pounds for the 2016/2017 financial year, the bank’s chairman Abdel Meguid Mohy El-Din told Amwal Al Ghad on Tuesday.