The Egyptian Arab Land Bank (EALB) said its total value of investments reached EGP one billion at the end of the last fiscal year, said Abdel Megid Mohy El-Din.
The bank will decide whether it will dissociate from some investments in the next period according to the stability of the market and the profitability of these investments, he added, noting that the bank achieved good profits from some investments at the end of the last fiscal year.
The bank has set a strategy in the upcoming period to decrease the real estate assets portfolio valued at EGP 2.3 billion, transferred to the bank after conducting debt settlements with ailing customers. This will be through establishing a real estate asset management company or partnering with public-sector companies such as the Arab Contractors and Rolin Construction Company to develop these assets.
As part of its efforts towards decreasing non-performing loans, the bank targets signing debt settlement agreements worth EGP one billion in the current fiscal year.
