Bahrain’s ABC Bank set to acquire BLOM Bank’s operations in Egypt

EGYPT – Arab Banking Corporation (ABC), an international bank with headquarters in Bahrain has signed a preliminary contract with BLOM Bank, a Lebanese bank, to close the acquisition of its Egypt operations, reports Daily News Egypt. The banking authorities in both Egypt and Lebanon have been informed of these developments, in preparation for the final contract’s signing soon. BLOM Bank had revealed that it had entered into exclusive discussions with the ABC to sell its 99.42% share of the total issued capital in BLOM Bank Egypt. In a brief statement…

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