The Industrial Development Bank of Egypt
The Industrial Bank was initially established in 1947 as a state owned joint stock company with a capital of LE 1.5 million to provide specialized financing for the industrial private sector. Since its re-establishment in 1976, IDBE was under-capitalized, thus impeding the Bank´s capabilities in achieving its objectives of financing small and medium industrial enterprises (SMIEs), since such tasks require long term stable funding. In addition to its core specialized banking business, IDBE extends the following services to its clients: projects evaluation, financial engineering, feasibility studies, disposal of assets on behalf of its clients. Total Assets of the Company amounted to $440 million at June 30th, 2006 and total approved loans during 2005-2006 was $96 million.
