EALB: Real Estate Assets Portfolio Register EGP 5 Mln
Published Wednesday, 25 July 2012 14:29 |
The Arab African International Bank’s (AAIB) real estate portfolio registered EGP 5 million, the value of 4 villas, at the end of last June.
The bank targets to dispose of its real estate assets after the stability of economy and recovery of real estate market. The non-performing loans portfolio accounted for 1.5% of the bank’s loans portfolio, registering EGP 26 billion at the end of the first half of 2012, sources said.
The bank plans to dispose of its bad debts by the next year after reaching compromise agreements with delinquent customers.
The bank plans to set debt settlement agreements in return for cash in the upcoming period. The largest debt due to the bank is worth EGP 200 million and is owed by Wagih and Ramy Siag.
Most Popular »
- World Bank, Egypt to sign Cooperation Strategy within a Month: Minister
- AfDB, Egypt to sign 2015-2020 Strategy Deal this Month: Minister
- Egypt studies participation in Uganda Road, Housing Projects
- Solar-powered Airplane lands in Hawaii after record-breaking 5-day flight from Japan
- IFC provides Egypt's PICO subsidiary with US$50mn Loan