National bank of Egypt (NBE) signed settlement agreements on bad debts worth EGP384mn last week. The deals include cash and non-cash (refinancing) settlements. Vice Chairman of NBE, Yehya Abou El-Fotouh, said that the financially-troubled customers involve a food industry operator, with which a compromise of EGP200mn has been reached; an automobile company, with which a compromise of EGP100mn has been made; and a contractor for a settlement worth EGP40mn. NBE’s NPLs portfolio currently totals EGP4.9bn, compared to EGP5.6bn in June 2015, Abou El-Fotouh noted that the bank’s NPLs are 100% cash coverage. The bank’s NPL ratio reached 2.3%, the senior banker added. (Amwal Al Ghad)