Cairo – Mubasher: The National Bank of Egypt (NBE) and Pharmaoverseas signed a protocol of cooperation to provide the banking support needed for various healthcare projects, along with digitising their services.
The protocol is in line with NBE’s strategy which focuses on supporting and developing micro-, small- and medium-sized enterprises (MSMEs) in all economic sectors, the bank’s Vice Chairman, Yehia Aboul Fotouh, said in a statement on Thursday.
Micro-, small- and medium-sized pharmacies, medical centres, hospitals, laboratories, and radiology centres will be supported and financed to purchase the pharmaceutical products provided by Pharmaoverseas.
NBE’s corporate credit portfolio rose by 32% year-on-year (YoY) to EGP 542 billion at the end of June, Corporate and Syndication Group Head, Sherif Riad, said.
In 2019, the sales of Pharmaoverseas registered EGP 8.2 billion, the company’s Chairman and Managing Director, Ahmed Gazarin, revealed.
