Industrial Development & Workers Bank of Egypt (IDWBE) is planning to pump EGP273 million for the Noran Sugar loans ‘Corresponding to the provisions of the law’ and Financial leasing companies.
An official source has informed Amwal Al Ghad that IDWBE is intending to pump EGP120 million with the loan which are arranging by Audi bank, Abu Dhabi Islamic Bank in favor of Noran Sugar company with EGP1.5 billion, along with EGP70 million for El Marakby for Steel which is arranging by the National Bank of Egypt worth EGP510 million.
The source explained that one of financial leasing companies are currently negotiating with IDWEB on EGP83 million loan but the bank did not reach to final agreement yet.
He pointed out that the loan portfolio of IDWEB up EGP4 billion at the end of the last of September. Along with the bank attainted EGP34 million operating profits to reach EGP104million at the end of September compared to EGP70 million at the end of June 2013.
