Al Morshedy Mall has signed an EGP 700 million financing agreement with Al Baraka Bank-Egypt to establish a new commercial centre in the fifth settlement.
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The transaction is the company’s first financing agreement with a banking entity, according to a press release on Thursday.
It is noteworthy to mention that in 2021, the bank’s consolidated net profits declined to EGP 1.13 billion, compared to EGP 1.26 billion in the earlier year, including minority shareholders’ rights.
