NBK
“Growth is projected to reach around 2.8 percent in FY20/21, and to rebound strongly to about 5 percent over the medium term, benefitting from the authorities’ continued commitment to reforms and renewed IMF support,” NBK foresaw in a report
He added in a statement that the expanding will be in the retail sector.
The NBK Group intends to expand investments in the Egyptian market during the coming stage, he said.
Al Ahly Bank Board Chairman Hisham Okasha said financing SMEs is a top priority for the bank in line with the state plan which aims at encouraging SMEs to secure thousands of job opportunities.
Arqaam Capital is the financial advisor to Misr Café, and Matok Basyouni Legal Consultancy Office is the legal advisor to the NBK in the transaction.
NBK Egypt achieved profits of LE 727 million ($ 40.64 million)in the first half of 2017, down 14.4 percent from LE 849 ($ 47.49) million in the same period in 2016.
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