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Monday, 10 December 2018

Banque Misr expects AfreximBank to agree USD 550 mn loan soon

Banque Misr will sign an agreement to borrow USD 550 mn from the African Export-Import Bank (AfreximBank) “within weeks,” Banque Misr Chairman Mohamed El Etreby tells Al Mal. Vice Chairman Akef El Maghraby had said last month that the bank was seeking a loan of the same amount “to improve USD liquidity” amid speculation that Banque Misr is one of three state-owned banks propping up the EGP throughout the emerging markets sell-off.

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