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4 banks reject Lakah offer to settle EGP230 mln debts

4 banks reject Lakah offer to settle EGP230 mln debts
Lakah Group
HCFI
-0.92% 3.23 -0.03

Medhat Kamar, General Manager for restructuring NPLs at National Bank of Egypt (NBE) told Al Mal gazette that NBE, Arab African International Bank (AAIB), Al Baraka Bank Egypt, and The United Bank rejected an offer made by businessman Ramy Lakah, Chairman of Holding Company for Financial Investment (Lakah Group) to settle the remaining EGP 230 million debts through assets in kind.