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Sunday, 24 March 2019

CBE gives Banque du Caire nod to buy out Cairo International Bank

M&A WATCH- CBE gives Banque du Caire the nod to buy out Cairo International Bank: The Central Bank of Egypt has given Banque du Caire the greenlight to buy out Cairo International Bank in Kampala, Uganda, to expand its reach in Africa, Chairman Tarek Fayed told Al Masry Al Youm. BdC currently owns 60% of the bank while National Bank of Egypt and Banque Misr jointly own 40%. “We’re in the process of completing the acquisition of NBE and Banque Misr’s remaining shares, especially after the greenlights from the CBE and the board of directors,” Fayed said.

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