The Clap
Egypt’s Export Development Bank (EXPA) has announced its intention to increase its assets by 12% in 2023, reaching a total of 100.9 billion Egyptian pounds.
What
The bank stated that the targeted volume of assets for the coming year will consist of 80% local currency and 20% foreign currency.
So what
This increase in assets is in line with the bank’s plan to increase loans and facilities by 21% in 2023, reaching a total of 52.2 billion Egyptian pounds by the end of the year.
Now what
The bank’s plans for the new year are based on the assumption that the exchange rate will remain around EGP 24.5 to the dollar, & that current interest rates will not change.
