Banks provided EGP1.9bn total financing as part of Mashroak initiative
Egyptian banks pumped a total EGP1.9bn into Mashroak (Your Project) initiative, of which Banque Misr has granted EGP875mn, according to the bank’s head of SMEs Alaa Ayoub. Ayoub said that the number of customers who obtained loans from Banque du Caire, National Bank of Egypt, The Principal Bank for Development and Agricultural Credit (PBDAC), Housing and Development Bank (HDB) and Banque Misr reached 27,200 over a year and a half. Most of SME projects financed by Banque Misr are related to industrial sector. (Al Mal) Housing & Dev. Bank: EGP17.13 as of 19 October 2016, Rating: Buy, FV: EGP28.47 per share, MCap: USD244mn, HDBK EY / HDBK.CA
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