NBE’s Loans to the Petroleum Sector Amount 40bn

NBE’s Loans to the Petroleum Sector Amount 40bn

Ayman Yassin, Head of Corporate Banking Group at the NBE told Daily News Egypt in an interview that the petroleum sector’s loan for the fiscal year of 2014/2015 had reached 40bn, in comparison with 27bn in the fiscal year of 2013/2014. While EGPC’s loans have represented a majority of the banks share in terms of loans to the sector, this is no longer the case; oil companies such as PICO, TAQA, Emarat Misr, and MIDOR have loaned significant amounts during the past year.

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