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Monday, 7 November 2016

AAIB studies EGP 800 mn loans to three real estate companies

The Arab African International Bank (AAIB) is studying EGP 800 mn in loans to three real estate developers, an official at the bank told Al Borsa. The three companies own projects in Six of October and New Cairo, the source added. The story does not speculate on the names of the story and is noteworthy only because we’re really, really tired of the constant stream of stories “leaked” (if it can charitably be called that) by low-to-mid-level bankers banging on about how Bank X is going to loan a gazillion pounds to a company / five companies / whatever in one industry or another.

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