Cairo – The board of directors of Arabian Food Industries Co (Domty) authorised its Vice Chairman and Managing Mohamed El-Damaty to issue an official power of attorney to the Egyptian Arab Land Bank (EALB).
The power of attorney will enable the bank to mortgage the assets of its bakery production line owned by the company and financed by credit facilities from the bank, Domty said in a bourse disclosure on Sunday.
During the first nine months of 2020, Domty achieved net profits of EGP 105.09 million, down from EGP 117.04 million in the year-ago period.
Source: Mubasher
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