Bank ABC completes acquisition of BLOM Bank’s Egypt operations for $480m
Published 16 Jan,2021 via Daily News Egypt - Bahrain’s Arab Banking Corporation (Bank ABC) completed its acquisition of BLOM Bank Egypt, last Thursday, for $480m, after negotiations that began in August 2020.
The acquisition contract addressed all cash and in-kind assets, as well as customer accounts.
BLOM Bank Egypt employees are expecting the arrival of a Bank ABC delegation who will review the bank’s work system. Intensive meetings are scheduled with the bank’s staff in the coming days, with BLOM Bank Egypt operations to undergo rebranding in the near future.
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Daily News Egypt