Cairo – Mubasher: The United Bank currently considers taking part in four syndicated loans worth EGP 900 million in collaboration with the National Bank of Egypt (NBE) and Banque Misr, the lender’s chairman Ashraf El-Kady said.

Such loans will be directed to contracting, food, and infrastructure sectors, El-Kady told Mubasher.

It is noteworthy that during the first half of 2019, the lender’s net profit rose to EGP 650 million from EGP 487.5 million in the prior-year period.

For the full-year 2019, the United Bank aims to increase its profits by 20% year-on-year to EGP 1.4 billion, El-Kady previously revealed.

Source: Mubasher Exclusive

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