Emirates NBD buys while there is still blood on the streets in Egypt « ArabianMoney

In what is undoubtedly either the most visionary or most stupid investment of the year Emirates NBD Bank has announced that it is buying the Egyptian operations of BNP Paribas for $500 million, following closely on the heels of Qatar National Bank’s acquisition of a majority stake in SocGen’s Egyptian arm earlier in the month.

So two giant French para-state banks are exiting Egypt, the largest foreign disinvestment this year, and two Gulf banks have stepped in. Are they wisely obeying the Rothschild dictum of buying while there is blood on the streets? Or is this more a question of political support for the ailing Egyptian economy?

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