Bad loans will be history for Banque Misr in 2011

Al Ahram Arabic portal, Sunday 28 Nov 2010

Egypt's number two bank covers its bad loans ahead of an Egyptian-Syrian joint venture set for 2011

Banque Misr covered its bad loans provisions gap in 2010, and is expected to record $100,000 in profit for the year, stated a report published by the public bank today according to Al Ahram Arabic portal.

The bank, rated 2nd in the Egyptian market, is planning to penetrate the Syrian market in 2011 in a $220 million joint venture with Banque Misr's obtaining a controlling share of 51%. 

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