Tuesday 2 October 2012

UAE, Morocco banks bid for BNP’s Egyptian arm - The Globe and Mail

Dubai’s Emirates NBD and Morocco’s AttijariWafabank have bid to buy BNP Paribas’s Egyptian retail arm, four banking sources said, as regional banks pick up assets being shed by European lenders.

BNP, the top French bank, put its retail banking business in Egypt on the block in June, seeking to shore up its capital base and exit non-core operations.

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