By: Eslam Fadl
Cairo – Mubasher: Egyptian Arab Land Bank (EALB) has purchased a plot of land spanning 6,500 metres in the New Administrative Capital, the lender’s vice president said.
The bank’s new branch will be built with up to EGP 1 billion in investments, Amr Gad told Mubasher in a phone call.
The bank also bought the headquarter of Export Development Bank (EBE) in Mohandessin at a value of EGP 130 million, Gad indicated.
He revealed that EALB has completed the final regulations to launch four new branches across the Arab world's most populous country prior to the end of the year. Accordingly, the bank will operate 31 branches.
Translated by: Mai Ezz El-Din
