The Industrial Development and Workers Bank of Egypt (IDBE) will promote 500 employees out of 1100, the total number of employees on the occasion of Eid al Fitr, said Sayed El-Kosayer, chairman of the bank. El-Kosayer told Amwal Al Ghad that the decision was highly applauded by employees. He said he asked the employees to work on improving the bank's image. The bank targets to achieve profit of EGP 22 million in the second half of 2012, while it achieved profit of EGP 28 million in the first half of 2012. Achieving growth rate will be attained through increasing the value of finances offered to small and medium enterprises (SMEs) by EGP 220 million to register EGP 500 million. The bank targets the disposal of 45% of its non-performing loans as the bank settled bad debts amounting to EGP 425 million owed by 80 delinquent customers at the end of FY 2011/2012. The value of the bank's cash income reached EGP 110 million.
