Egypt's Banque Misr seeks to borrow $550 million before end-2018: Vice chairman

Reuters , Sunday 11 Nov 2018

Banque Misr
File Photo: People walk in front of Banque Misr in Cairo, Egypt, November 3, 2016 (Photo: Reuters)

Banque Misr is seeking to borrow $550 million from foreign lenders before the year’s end to improve dollar liquidity, the vice chairman of Egypt’s second largest bank said on Sunday.

Citi Bank and Emirates NBD will be arranging the loan, Akef ElMaghraby told Reuters.

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