Qatar’s QNB Said to Hire McKinsey to Advise on Egypt Bank Growth - Bloomberg

Qatar’s QNB Said to Hire McKinsey to Advise on Egypt Bank Growth - Bloomberg:



"Qatar National Bank, the nation’s largest lender, hired McKinsey & Co. to help formulate a strategy for its Egyptian business as it seeks to boost operations, two people with knowledge of the matter said.



The company is helping the state-controlled lender devise a five-year plan for Qatar National Bank Alahly, said the people, who asked not to be identified because the information is private. QNB is working to increase profitability and market share in Egypt, according to one of the people.



QNB bought 97 percent of the lender in March last year from Societe Generale SA (GLE) for $2.45 billion. The Doha-based bank is seeking to expand in Egypt, a country with a population 40-times greater than Qatar’s, even as relations between the two nations deteriorate after the military-backed overthrow of Mohamed Mursi’s Muslim Brotherhood government last July."



'via Blog this'