Home Business The Lebanese Bank Audi is working to sell its operations in Egypt

The Lebanese Bank Audi is working to sell its operations in Egypt

Source: Dubai – Arabic.net

Al-Arabiya learned that the Lebanese Bank Audi is working to sell its subsidiary bank in Egypt as part of its restructuring efforts amid the financial and banking crisis in Lebanon.

Bank Audi business was launched in the Egyptian market after the acquisition of Cairo Far East Bank in 2006.

The latest annual data for the group indicate that the assets of Bank Audi Egypt are close to $ 3.9 billion, equivalent to 8.2% of the Lebanese group’s assets, while its deposits portfolio reaches $ 3.2 billion, offset by loans of more than $ 1.7 billion.

Bank of Egypt had announced last May a deal to buy the work of the National Bank of Greece in Egypt, but the validity of the agreement expired on the second of November without completing it.

.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Most Popular

It reached “100,000 pounds” … January wave of cuts hit 23 C

02:23 PMTuesday, January 21, 2020Books - Ayman Sabry: A number of companies and brands agents in Egypt announced during the month of January this year,...

Seagull was offered the post of presidential envoy to the North-Caucasian Federal District

MOSCOW, Jan 21 - RIA News. Yuri Chaika They proposed to take the post of presidential envoy to the North Caucasus Federal District, said...

Iranian politician offers three million reward “to those who kill Trump”

UAn Iranian politician offered three million dollars (2.7 million euros) in reward to anyone who kills US President Donald Trump, reports the New York...

Discovery of new cells could help treat all cancers

Health2:38 PM Jan 21, 2020(updated 14:41 21.01.2020) Short urlhttps://cdnfr2.img.sputniknews.com/images/104160/65/1041606541.jpgSputnik Francehttps://cdnfr2.img.sputniknews.com/i/logo.pngSputnikhttps://cdnfr2.img.sputniknews.com/i/logo.pnghttps://fr.sputniknews.com/sante/202001211042940605-la-decouverte-de-nouvelles-cellules-pourrait-aider-a-traiter-tous-les-cancers/Certain cells in our blood could naturally attack a wide range of cancerous tumors, say...

Recent Comments