Arab Finance: El Nasr Clothing and Textiles Company (KABO) announced the prepayment of an EGP 9 million loan to the Export Development Bank of Egypt (EBank) (EXPA), according to a filing to the Egyptian Exchange (EGX) on Wednesday.
The loan was supposed to be restructured to be paid within the period from January 1st 2023 until December 31st.
It is worth noting that the company’s consolidated profit excluding minority interest surged to EGP 4.12 million in three months to September 30th from EGP 733,186 a year earlier.
KABO is an Egypt-based company that produces underwear for men, women, and children of all ages. It sells its products in Egypt, the Middle East, as well as Africa.