Egypt's Central Bank Didn't Receive Request from Lebanon's Bank Audi to Sell Egyptian UnitSource: www.export-egypt.com 1/13/2020, Location: Africa |
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The Central Bank of Egypt (CBE) stated it had not received a request from Lebanon’s Bank Audi to sell its Egyptian unit.
Media reports said Bank Audi planned to sell its Egyptian unit as part of a restructuring process to deal with the financial and banking crisis in Lebanon. But Mohamed Bedir, the CEO of Bank Audi Egypt, said in a media statement that the bank has had a plan to open 13 new branches across Egypt in 2020. The operations of Bank Audi's unit in Egypt started in 2006 after acquiring Cairo Far East Bank. |
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