Financial leasing company EgyLease is in talks for an EGP 200 mn loan from the National Bank of Egypt to expand its portfolio, Chairman Iman Ismail told Al Mal. The company is also negotiating loan agreements with United Bank and Ahli United Bank, he said, adding the amounts have not been decided. EgyLease had been in talks with Banque Misrfor an EGP 400 mn loan last month, the outcome of which has not been made public.

Meanwhile, Porto Group subsidiary Porto 6 October for Touristic Development has signed a EGP 500 mn sharia-compliant loan agreement with Banque Misr, company Co-Chairman Ayman bin Khalifa said. The proceeds aim to speed up work at the 1.38 mn sqm Porto October project west of Cairo.

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