NBE planning 20% cut in bad loans by end of fiscal year 2016-17
National Bank of Egypt (NBE) is planning to reduce its non-performing loans from EGP5.2bn as of May 2016 to EGP4bn (USD450.5mn) by end of financial year 2016-17. Yehia Aboul Fotouh, Vice Chairman of NBE, said that by end of current financial year 2015-16, NBE’s NPL portfolio is likely to record EGP5bn only. NBE’s fiscal year ends in June. (Amwal Al Ghad)
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