Metropolitan Consulting succeeded in conducting EGP 170m in settlements with banks for several of its defaulting clients during the first quarter (Q1) of this year, according to the company’s chairman, Khaled Nagaty.
Nagaty said the company also succeeded in providing funds of around EGP 300m for some of its clients, whether from banks or other financing bodies.
The company has recently acquired EGP 8m in funds for an automotive company, he added. Another fund of EGP 30m was acquired for plastic plastics company, in addition to facilitating an EGP 2m loan for the company Casablanca for Readymade Garments from a government bank.
According to Nagaty, Metropolitan Consulting’s issued capital amounts to EGP 10m, while the paid up capital amounts to EGP 1m, with no intention to increase the amounts during this period.
Nagaty asserted that there is a plan to restructure the company, as a prelude to listing it on the Nile Stock Exchange (NILEX) at the beginning of 2016.
He added that the company aims to have a presence in the Arabian Gulf, with the beginning of that plan being the agreement with the Saudi Al-Bluwi to offer the company’s services on the Saudi market.