HSBC to inject $250 million into Egyptian ventures
British financial group HSBC recently announced that it will inject $250 million into the Egyptian economy. The Bank’s Project and Export Finance division in London will transfer the funds to HSBC’s subsidiary in Egypt, which will be used to finance international ventures secured in the North African state, reported Al-Alam Al-Yaum.
With some 7,000 offices in 81 countries and territories in Europe, the Asia Pacific region, the Americas, the Middle East and Africa, HSBC is one of the world's largest banking and financial institutions.
In Egypt, the HSBC Group is principally represented by HSBC Bank Egypt, formerly Egyptian British Bank. Established in 1982, the bank provides a comprehensive range of banking and related financial services to meet the personal and corporate banking needs of its customers
in both local and foreign currencies. — (menareport.com)
© 2002 Mena Report (www.menareport.com)