State-owned Egyptian Arab Land Bank (EALB) has signed a new agreement for a new headquarters in the new administrative capital on an area of 6,500 thousand metre. Lately , the bank has bought Export Development Bank of Egypt headquarter. A source told Amwal Al Ghad that the bank has a network of 27 branches after opening a new one in Luxor, adding that the bank seeks to increase the number of branches to 30 before the end of 2018. The Bank aims to shift to profitability by 2020, and target profit ranging from 300 to 500 million pounds.