While customer loans and advances reached EGP38.39 billion as of end 1H2018, growing at 13.20 per cent year-on-year, compared to EGP33.91 billion for the end of December 2017.
The Bank of Israel, the country’s banking regulator, has been a longstanding supporter of the proposed deal.
“The merger will certainly boost the credit market share of the two banks,” he said. “Also, the banks would have a wider integrated network. A lot will depend on the efficiency of operations after the merger.”
As threats become more complex and data more ubiquitous, financial institutions are faced with several challenges in protecting information assets considering the need to provide employees, customers and partners access to data, Ganom explained.
The report continues: “Debt is an integral part of real estate investment and development, and the Middle East is no different, albeit the quantum is lower than most developed markets.