Egyptian Arab Land Bank’s deposits portfolio surged by EGP one billion at the end of last May, registering EGP 17 billion including the deposits at the Bank’s foreign branches in Palestine and Jordan, compared with EGP 16 billion at the end of 2011.
Despite the political and economic unrest and security turmoil happening in Egypt, EALB’s deposits rose by EGP one billion, thanks to its savings certificates that offer competitive returns, said Abdel Meguid Mohy El-Din, deputy chairman of EALB.
Loans portfolio increased by EGP 1.3 billion, registering EGP 15.3 billion at the end of last May, up from EGP 14 billion at the end of 2011. The total volume of corporate credit facilities and loans offered by EALB since the beginning of the current fiscal year till the end of last May registered EGP 500 million.
