{"id":649822,"date":"2017-03-09T04:20:38","date_gmt":"2017-03-09T04:20:38","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/09\/mashreq-bank-sees-greater-opportunity-in-egypt-since-the-egp-float-in-november\/"},"modified":"2017-03-09T04:20:38","modified_gmt":"2017-03-09T04:20:38","slug":"mashreq-bank-sees-greater-opportunity-in-egypt-since-the-egp-float-in-november","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/09\/mashreq-bank-sees-greater-opportunity-in-egypt-since-the-egp-float-in-november\/","title":{"rendered":"Mashreq Bank sees greater opportunity in Egypt since the EGP float in November"},"content":{"rendered":"

Mashreq Bank sees greater opportunity in Egypt since the EGP float in November <\/strong>and the country\u2019s subsequent move to secure a USD 12 bn loan from the IMF, said Jan-Willem Sudmann, group head for international banking at the Dubai-based bank. Even though the Egyptian pound lost 150% of its value against the USD after the central bank floated the currency, Sudmann tells The National<\/a> that the bank did not see a flood of default from clients with debt in hard currency and that the bank would continue lending to big corporations. His statements come at a time when the bank is looking to boost its international business in countries including China, India, and Egypt to where 30% of operating income comes of them, up from a current 24%. Mashreq is trying to diversify the away from the oil-dependent nations of the GCC which have been hit hard in recent years by low oil prices.<\/p>\n","protected":false},"excerpt":{"rendered":"

Mashreq Bank sees greater opportunity in Egypt since the EGP float in November and the country\u2019s subsequent move to secure a USD 12 bn loan from the IMF, said Jan-Willem Sudmann, group head for international banking at the Dubai-based bank. Even though the Egyptian pound lost 150% of its value against the USD after the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-649822","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"85eb8623-d9c9-4643-b2c9-475a0d4c255d","order":"0","is_powered_by":true,"section_story_id":"0243a0dc-0dcb-4838-a61e-f25b9ba9b041","story_type":"1","photo_url":"","photo_position":"above","related_issue":[649810],"teaser":"","voice_url":""},"yoast_head":"\nMashreq Bank sees greater opportunity in Egypt since the EGP float in November - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/09\/mashreq-bank-sees-greater-opportunity-in-egypt-since-the-egp-float-in-november\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mashreq Bank sees greater opportunity in Egypt since the EGP float in November\" \/>\n<meta property=\"og:description\" content=\"Mashreq Bank sees greater opportunity in Egypt since the EGP float in November and the country\u2019s subsequent move to secure a USD 12 bn loan from the IMF, said Jan-Willem Sudmann, group head for international banking at the Dubai-based bank. 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